Forex & commodities on April 23, 2018: outlook


Here are my discretionary thoughts on forex and commodities. I only trade the stock market.
Go to the homepage for my latest thoughts on forex and commodities.

Thoughts

  1. The smart money is bullish on the U.S. Dollar, bearish on the Euro, neutral on the Yen, and neutral on the Canadian dollar
  2. “Smart money” commercial hedgers are slightly bearish on gold, very bullish on silver, and very bearish on oil.

1 am: The smart money is bullish on the U.S. Dollar, bearish on the Euro, neutral on the Yen, and neutral on the Canadian dollar
The U.S. Dollar is fluctuating in an extremely narrow range, and “smart money” commercial hedgers are still bullish on it.

The smart money just keeps on getting more and more bearish on the Euro (bearish on EURUSD). This is while Europe’s economic indicators continue to deteriorate a little bit.

Smart money is getting bearish on the Yen (slightly bullish on USDJPY).

Smart money is pretty neutral on the Canadian dollar (neutral USDCAD).

Smart money is getting more and more bearish on the British Pound (bearish on GBPUSD).

1 am: “Smart money” commercial hedgers are slightly bearish on gold, very bullish on silver, and very bearish on oil.
The smart money is still slightly bearish on gold.

The smart money is still very bullish on silver, although they did pullback their long positions a little this week due to silver’s surge.

The smart money is extremely bearish on oil in the face of oil’s recent breakout.

Read Forex & commodities on April 20, 2018: outlook

Bottom line

I only trade stocks. These are just my thoughts/outlook on other markets.

  1. Gold and silver are in bull markets.
  2. I’ve decided to buy some gold and silver as long term investments.
  3. The U.S. Dollar is in a bear market.

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