A rather mixed session suggests some caution is needed in the currency space although the Euro and the Aud$ both look heavy, while US$Chf seems to have some potential upside. In the crosses, as with yesterday, the Euro looks to be under some pressure against both the Yen and the Aud, which also looks heavy against the Kiwi, in the medium term. The kiwi also looks increasingly toppish against the US$. Stocks still look positive but the oxygen is getting very thin up here and the overbought nature of all the charts does suggest that a correction may be imminent. The other interesting trade is in oil, where I suspect WTI is on a mission to test 65.00 at some stage.
*Trade of the day: 1/10/2018 10:13 AM (AET)……
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
————————————————————————————————————————————
Sell EurUsd @ 1.1970. SL @ 1.2020, TP @ 1.1865
Buy US$Chf @ 0.9785. SL @ 0.9735, TP @ 0.9900
US$Jpy range trade 112.20/113.20
