DXY
Volatility slowed last week ahead of the NFP report. At this stage we could go either way this week – there’s reports of a reescalation in the Middle East conflict over the weekend so we will need to see what the USD does on market open.
AUDUSD
AUD is now pushing to the extreme range-highs, so that will be an area to watch this week.
EURUSD
The Euro is actually looking like a decent long opportunity. Again, all depending on the USD – if the original long-term bullish view plays out then expect lower prices on EURUSD.
GBPUSD
Whilst it might be encouraging to see a similar retracement on the pound, you can’t ignore the tightening long-term consolidation..
USDCAD
USDCAD is looking messy at this stage – with the flare-up in conflict over the weekend, put this one on the sidelines for now.
USDCHF
USDCHF is still sideways for now. Intraday plays will be the only option here.
NZDUSD
My local currency, the kiwi, is still respecting it’s long-term boundaries. Price action closed the week messy due to NFP so will see how Monday plays out before making a call on this one.
USDJPY
A classic unwinding of large positions on the Yen last week. If this continues, we actually have decent downside opportunity to 150.0.
XAUUSD
Gold’s still looking like a decent long-term buy here. I’m interested to see if this trendline actually holds around 4,600. If so, it will be a confirmed resistance zone. Nothing significant for now.
XAGUSD
That reaction on silver that we mentioned last week appears to have been a massive overreaction from the market, resulting in a very shallow retracement.
UK Oil
UK Oil appears to be off to the races again. Look for 110.0 in the coming weeks!
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