Forex & commodities on April 30, 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, neutral on the Canadian dollar, and bearish on the Pound.
  2. “Smart money” commercial hedgers are neutral on gold, 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 breaking out above its very narrow range. “Smart money” commercial hedgers are still bullish on it, so it seems like they got the USD’s direction right this time.

The smart money is still very bearish on the Euro (bearish on EURUSD). This is while Europe’s economic indicators continue to deteriorate a little bit while the U.S. economy continues to grow at the same pace.

Smart money is neutral on the Yen (neutral on USDJPY).

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

Smart money is very bearish on the British Pound (bearish on GBPUSD).

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

The smart money is still bullish on silver, although they did pullback their long positions a little over the past 2 weeks 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 27, 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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