As before, the scenario still seems to be one of buying the dollar on dips against any of the major pairs, (with the possible exception of Cable – because of Brexit headlines), and against the Euro in particular because of the Italian issues, which is where I prefer to be short. US$Jpy and US$Chf also look bid, with US$Jpy, which managed a weekly/monthly close above the 200 WMA, suggesting higher levels ahead for the dollar.115.00+ would seem to be on the cards here.
The exception to the strong US$ would seem to be in the Cad$, where higher levels still seem to lie ahead
Gold was flat on Monday, and may yet squeeze back towards 1200 although I suspect it is a medium term sell, looking for an eventual return to 1160 and then lower.
Stocks still look bid in the longer term, but I am wary of the bearish divergence in the weekly charts and prefer to stand aside
As before, WTI remains interesting after having broken and closed above the neckline of the reverse Head/Shoulders and now also above the important Fibo level at 72.70. The H/S target is at around 80.00. Look to buy dips near current levels, with a SL raised to 74.20.
By October 2, 2018
*Trade of the day: October 2, 2018 6:11 AM(AET)
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Buy WTI @ 74.80. SL @ 74.20, TP @ 77.00
Sell EurUsd @ 1.1630. SL @ 1.1680, TP @ 1.1540
Buy US$Jpy @ 113.50. SL @ 112.90, TP @ 114.80
Sell AudUsd @ 0.7250. SL @ 0.7285, TP @ 0.7170
Range Trade: AudUsd: 0.7160//0.7260 (SL 30 points either side)