Dollar correction as expected but it did not last long, as we shot higher to retest the high in the dollar index. We could see a small double top here but I would not bet on it. Holding longs for the medium term remains our strategy & buying in to any weakness as we have stated.
Emini S&P correction in the short term as predicted to a buying opportunity at 2708/06, with stops below 2700.
AUDUSD sideways as predicted on Thursday & no longer oversold, which means risks are to the downside.
NZDUSD we wrote: Outlook negative. Bears clearly remain in control & a break lower today targets 6885/81, 6870 & perhaps as far as 6850/40.
Lower as predicted & we bottomed exactly at 6850/40.
Outlook remains negative.
USDJPY held key support at 109.25/20 & beat 200 dma resistance at 110.15/20 to trigger stops on shorts for a buy signal.
EURUSD shorts at 1.1960/70 were tricky as we over ran to 1.1996 but we did turn lower eventually & broke 1.1900 to retest the 1.1830/20 low.
USDCAD I still have no idea on direction as we trade sideways for almost a year. The pair are erratic & difficult to trade.
EURJPY shorts at 130.85/95 were hopefully just held as we failed to break above 131.35. The pair headed lower to 130.42.
GBPUSD continues sideways as as predicted many days ago. Shorts at strong resistance at 1.3590/99 worked after we topped just 9 pips above. We bottomed 8 pips below last week's low at 1.3457.
GBPJPY trading sideways as expected.
Gold unexpectedly broke our buying opportunity at 1308/06, with stops triggered below 1300. This is a sell signal & we look to sell a bounce today.
Silver topped exactly at our selling opportunity at 1680/85 & collapsed to 1618.
Outlook negative & a break below 1590 is another sell signal.
WTI Crude longs from support at 7050/40 work as we beat minor resistance at 7085/95 & hit all targets of 7125/30, 7160/65 & the 7180/89 high for a potential 130 ticks.
WE HAVE A DOUBLE TOP SELL SIGNAL IN OVERBOUGHT CONDITIONS AS WE HOLD JUST BELOW IMPORTANT LONGER TERM RESISTANCE AT 7300/10.
Bitcoin outlook remains negative - I have correctly called it lower all year & I am sticking with this bearish outlook.
Today's reports & trade ideas:
