Forex & commodities on March 6, 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. Smart money is bullish vs the U.S. dollar’s pairs.
  2. March is seasonally bearish for precious metals.

3 am: Smart money is bullish vs the U.S. dollar’s pairs.
Commercial hedgers (“smart money”) are somewhat bullish on the Yen (bearish on USDJPY), but are increasingly less bullish as the Yen is going up.

Commecial hedgers are still bearish on the Canadian Dollar (bullish on USDCAD).

Commercial hedgers are still bearish on the Pound (bearish on GBPUSD).

Commercial hedgers are neutral on the Australian dollar.

3 am: March is seasonally bearish for precious metals.
From a seasonality perspective, March is gold’s weakest month in the first half of the trading year.

Silver’s seasonality is weak in March as well, although it isn’t as weak as gold in March.

Read Forex & commodities on March 5, 2018.

Bottom line

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

  1. Gold and silver will break above their tight range in the first half of 2018.
  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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