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Daily Forecast: Equity Index, Energy, Metals, Grains, Forex & Fixed Income

Published 04/25/2018, 01:15 AM
Updated 07/09/2023, 06:31 AM

USD/JPY reversing in to a long above 108.10 worked as we hit targets of 108.40/45, 108.75/80 & finally 108.95/109.00 for profit taking. We topped 19 pips above. We may have a small correction to ease overbought conditions. We should be flat now so can buy on the dip.

EUR/JPY tried a break above strong resistance at 133.00/10 with shorts stopped above 133.40 for the first time on this trade. (After it worked everyday for over a week). Obviously bulls must hold prices above 133.00/10 for a buy signal targeting 133.70/80 then minor resistance at 134.15/25.

AUD/USD pauses at very minor 2 month trend line support at 7590 but outlook is negative.

NZD/USD now holding below 7140/30, so the outlook turns negative.

EUR/USD has so many trend lines after a 3 month sideways trend. We broke the 13 month trend line at 1.2320/10 hit the most important support of the week at 1.2210/00...but over ran by 20 pips before a recovery.

USD/CAD holds minor support at 1.2805. I have no idea which was we go next, although I am generally bullish of the US dollar of course.

GBP/USD bounced off 1.3916 to ease short term oversold conditions but the outlook remains negative.

GBP/JPY we wrote: holding above 151.35/40 targets resistance at 151.80/85. If we continue higher look for 1.5220, perhaps as far as 1.5235/40...

We shot higher to 152.59.

WTI Crude sideways as predicted, holding first support at 6770/60.

Gold in a sideways trend all bloody year! Hope you like scalping.

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Silver longs at 1663/60 working with a small bounce.

Emini S&P 500 we called a high for the recovery last week & headed lower ever since, with losses accelerating yesterday. Up to 100 points profit on offer yesterday but outlook remains negative.

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