Forex/Futures Outlook 07/17 - 07/18

greenback

Well, sorry for the much belated report, but really there was nothing much last night anyway. This morning's actions really warrant a good update.

First Forex:

EURO is being hold back by the second down trend line. Breaking out here would be a nice assurance for stock bulls.


JPY is turning stronger. Seems like traders are giving up hope for more BOJ stimulus.


AUD is the best of the four monitored: It has broken out of the previous high. Most likely traders are buying into the rumor of much anticipated Chinese stimulus ... This is consistent with the strength in CRUDE to be discussed below.


GBP is stuck at a S/R level, though off the down trend line ...

greenback

As said above, CRUDE has broken out ... very bullish. This is good news for stocks as well.


GOLD remains the same ... nothing new happening ...

greenback

ZN and ZB still refuse to budge. There is a different opinion on the econ outlook ...

greenback

Finally, stocks broke out this morning ... indices are now at least safe for bulls in the next 24 hours.
Note that we are yet to reach the upper channel trend line in the next few days.

greenback

The daily risky assets look good too ...

greenback

Let's have a overview of all assets ... hog and cattle are turning around ...

chickencoop