PS: You might try to use my entry price and play short term if you like, but change the target since most of my target is medium term or long term.
EUR/USD
EUR/USD got a little bit lift off yesterday from a risk of crash and this might last quite long too. Even with last night good GDP data, it will be hard to push EUR/USD down. The biggest news for Euro might be DB. But that will impact only 1 country, not the whole Euro Union. Even so, risk of crash will push up this pair, balancing them later.
I remain neutral short term and bullish long term.
Trading suggestion:
Long EUR/USD from 1.115 - 1.12 level with TP 1.15 - 1.18 level and SL at 1.1 (Medium Term)
GBP/USD
Following a risk from DB, GBP move downside as well and it will be hard for this pair to get a good uptrend. Today's data might impact quite a lot about the movement of this pair. Finding a good entry again might be hard and i revise my entry suggestion for now.
I remain neutral short term and bearish long term.
Trading suggestion:
Short GBP/USD from 1.305 level with TP 1.2 - 1.25 level and SL at 1.345 (Long Term)
USD/CHF
CHF serves their role as a safe haven and when crashes happen it will become bullish. Since October is a month where crashes happens, this might just be the start of it. Not to mention we have seen a break to the downside.
I change from neutral to bearish short term and bearish long term.
Trading suggestion:
Short USD/CHF from 0.975 - 0.97 level with TP 0.92 - 0.94 level and SL at 0.99 (Medium Term)
USD/JPY
Following last night Deutche Bank's crash, this pair might be push down further more unless there are some bail out or help to DB then this pair might regain some to the upside. But starting from October might be a hard time for stock market not to mention US Election might make many traders take their profit. This makes stocks market bearish and USD/JPY will follow as the result.
I remain bearish short term and long term.
Trading suggestion:
Short USD/JPY from 101.8 - 102 level with TP 90 - 95 level and SL at 108 (Long Term)
GOLD
Although 1310 level has not been breacher yet, there is 50% Gold might goes down to that level but following a crash from DB, investors might start changing their investment from stocks to gold in order to protect their asset. This made last night an interesting opportunity to make investment in Gold. Should SPX crash as well, gold might become the best place to invest.
I change from bearish to neutral short term and longterm bullish.
Extra Note : Cost Of Production for gold around $1200
Trading suggestion:
Long GOLD from 1310 - 1330 level with TP 1400 - 1500 level and SL at 1240 (Long Term)
SILVER
Silver seems more resistant to the bear movement last night but it lacks the gas to go up as well. Even with a good GDP, it can't go down and making an entry might need a good opportunity. Overall, the outlook has not changed yet.
I am neutral short term and long term bullish
Extra Note: Cost Of Production for silver around $12
Trading suggestion:
Long Silver from 18.8 - 19 level with TP 23 - 25 level and SL at 15 (Long Term)
OIL
Oil retraced a bit yesterday and rally again after it. It will be good to invest in Oil if you can find a good price since the current price is a bit high. the risk of renewable energy might not hit oil for now and it is still a compelling investment place.
I am neutral short term and bullish long term.
USD/CAD
USD/CAD moves upside from a crash risk since crashes will be bearish on commodity based currency or emerging market even if that is for short term. Short term outlook has not changed yet but traders need to beware from a sudden kneejerk although it might turn back very fast. The economy condition still supported by strong Oil price for now.
I am neutral short term and bearish long term.
Trading suggestion:
Short USD/CAD from 1.308 - 1.314 level with TP 1.25 and SL at 1.34 level (Medium Term)
AUD/USD
Crash risk increased and you can try to blame DB for that. Crashes will be always negative to commodities based currency and looking at AUD's price that is too high for now, it will be more logical for AUD to descent. Currently it has broken a short term uptrend and it might go both ways for now. I am still not going to recommend any trade suggestion at current price.
I change from bullish to neutral short term and bullish long term.
NZD/USD
No change for NZD outlook from yesterday and most movement got the same problem with AUD as well. Seems like that there is no good price to enter for now and i will refrain to make a recommendation as well.
I change from bullish to neutral short term and bullish long term.
Trading Note:
Friday always contains volatility due to profit taking. Becareful out there before making any decision!
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