13 Aug: Trend table outlook for FX, Commodities, Indices: FXCharts

There is far too much going on at the start of the week with the charts beginning the week with an opening gap in several US$/pairs,  so, in bullet points: By | August 13, 2018

  1. The US$ remains very bid in the medium term against the Euro, Aud, Kiwi and Sterling in particular. A sell on rallies today in EurUsd/AudUsd etc would seem to be the plan
  2. US$Chf and US$Jpy seem stuck in the mud against the US$ but remain very firm on the crosses. Further Jpy/Chf strength seems to lie in store this week, so again, buy these currencies on rallies in EurJpy, NzdJpy and EurChf etc. (i.e. sell the crosses into near term strength)
  3. Aud/Nzd seems set for higher levels and appears to be a buy on dips.
  4. Gold and silver are doing nothing. However they are sitting above important support and I suspect at some stage will crack under US$ strength and may be a sell at current market price.
  5. Stocks – leave alone. Too much action elsewhere.
  6. The PBOC will continue to devalue the Yuan. Buy the dollar on dips.
  7. WTI looks ok in the short term but I suspect that is is a sell into strength. There are easier things to trade right now.

Sell EurUsd @ 1.1430. SL @ 1.1510, TP @ 1.1300

Sell AudUsd @ 0.7300. SL @ 0.7380, TP @ 0.7200

Sell NzdJpy @ 73.00. SL @ 73.80, TP @ 72.00

Sell Gold @ Market. SL @ 1230, TP @ 1180

Sell Silver @ Market. SL @ 15.70, TP @ 14.50

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