How would you position your trades on the US Dollar and other major currencies for the week beginning Mon, 21 May 2018?
The dollar rose against a basket of peers on Friday to its highest since mid November, helped by gains against commodity-linked currencies, as oil prices fell after Saudi Arabia and Russia said they were ready to ease supply curbs that have supported boosted crude prices.\
The dollar index, which measures the greenback against a basket of six currencies, was up 0.48 percent at 94.21, after hitting a high of 94.241, its strongest since mid-November.
The index has logged weekly gains in five of the last six weeks.
Oil prices fell more than 2 percent on Friday as Saudi Arabia and Russia said they were ready to ease supply curbs that have pushed crude prices to their highest since 2014.
The U.S. dollar was also 0.74-percent higher against the Canadian dollar, a more than two-week high.
The Australian dollar was 0.38 percent lower against the greenback.
The dollar had been rising for weeks but lost some of its momentum after the Federal Reserve minutes on Wednesday were seen as more dovish than markets had expected.
Meanwhile, the euro weakened and was on pace for a sixth consecutive week of losses as rising bond yields in Italy triggered nervousness among investors, while brewing political instability in Spain also weighed on sentiment.
Sterling meanwhile traded near a five-month low of $1.33 on Friday, hindered by worries over Brexit and further signs of sustained weakness in Britain’s economy.
Where should you position yourself this week on the majors of US Dollar, Euro, Yen, AUD, CAD and Pound and other currencies?
Do not second-guessed and read too much into the news.
Our algorithm-derived calls and trigger price will guide your trading leaving no grey areas and only the highest low-risk high probability opportunities available.
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|Prepared by Bulls and Bears Trading Education|
|For Publication||1||PT= Positive Tilt||Neutral means price could|
|Instrument Outlook||NT = Negative Tilt||be just range-bound|
|Instrument||Price||gory||Region||Weekly Call||Daily Call||Price Direction||Price Cycle|
|1||AUD JPY||82.6700||Forex||1 AUD = JPY||Avoid/Strong Bear||Avoid/Bear||Expect near term Up||Expect near term strength|
|2||AUD NZD||1.0697||Forex||1 AUD = NZD||Avoid/Strong Bear||Neutral(PT)||Expect near term Up||Expect near term weakness|
|3||AUD USD||0.7581||Forex||1 AUD = USD||Neutral(NT)||Avoid/Strong Bear||Expect near term Down|
|4||CAD JPY||84.9600||Forex||1 CAD = JPY|
|5||EURO AUD||1.5999||Forex||1 EUR = AUD|
|6||EURO CAD||1.5557||Forex||1 EUR = CAD|
|7||EURO CHF||1.1980||Forex||1 EUR = CHF|
|8||EURO GBP||0.8799||Forex||1 EUR = GBP|
|9||EURO JPY||132.2700||Forex||1 EUR = JPY|
|10||EURO NZD||1.7113||Forex||1 EUR = NZD|
|11||EUR0 USD||1.2128||Forex||1 EUR = USD|
|12||GBP AUD||1.8173||Forex||1 GBP = AUD|
|13||GBP CHF||1.3610||Forex||1 GBP = CHF|
|14||GBP JPY||150.2200||Forex||1 GBP = JPY|
|15||GBP USD||1.3778||Forex||1 GBP = USD|
|16||NZD JPY||77.2300||Forex||1 NZD = JPY|
|17||CAD USD||1.2826||Forex||1 USD = CAD|
|18||CHF USD||0.9877||Forex||1 USD = CHF|
|19||HKD USD||7.8472||Forex||1 USD = HKD|
|20||JPY USD||109.0300||Forex||1 USD = JPY|
|21||NZD USD||0.7083||Forex||1 USD = NZD|