The Euro and the Aud$ look to be in some trouble on Monday and selling into any short-term strength in either of these, against the US$, seems to be a plan. The other US$/major pairs look less certain but overall, I still like the dollar to trade higher in the medium term, meaning that the commodities (Gold, Silver, WTI), which all took a decent hit on Friday, could see further downside pressure in the days ahead. Once again, selling rallies is preferred.
Stocks currently look messy and I would leave them alone although at some stage I suspect that the market will not like the idea of further Fed hikes and may come under some downside pressure of their own
In the crosses, GgbAud and EurAud both seem to be increasingly building steam for further upside momentum, although the better trades may lie against the US$ for the coming week.
Sell EurUsd @ 1.1670. SL @ 1.1720, TP @ 1.1520
Sell AudUsd @ 0.7480. SL @ 0.7540, TP @ 0.7370
