We are preparing an extensive analysis of the SPX and therefore are splitting this article into two parts: today we will cover Oil, Gold and the G6 currency pairs, while tomorrow the focus will be on the SPX only.  So stay tuned.

We cautioned last week against reading too much into OPEC’s promises of supply cuts. Such caution was warranted as Oil finished the week on the lower target level, but still above our weekly pivot at $50. As a result, there’s no change in trading signals.

Current signals: Daily Buy/Hold, Weekly Sell.

Sell pivot at 50

The projected trading range for Oil for next week is 48.8 – 54.5:

Gold was on the defensive all week but managed to close above 1240 without triggering a weekly sell signal.

Current signals: Daily Sell, Weekly Buy

Weekly Sell pivot at 1240.

The projected trading range for Gold for next week is 1225 – 1265:

USDCHF spent most of the week in an uptrend, but failed to reach our upside weekly target or even the Buy/Sell pivot at $1.00. Therefore, the trading signals remain unchanged.

Current signals: Daily Sell, Weekly Sell

Weekly Buy/ Sell pivot at 1.00

The projected trading range for USDCHF for next week is 0.985 – 1.004:

USDJPY broke above our weekly pivot on Monday, which triggered a daily buy signal. The upswing continued until USDJPY found resistance at our upper weekly target.

Current signals: Daily Buy, Weekly Buy

Weekly Sell pivot at 113.2

The projected trading range for USDJPY for next week is 112.65 – 114.22:

EURUSD finished the week at the lower weekly target, triggering a daily sell signal.

Current signals: Daily Sell, Weekly Buy

Weekly Sell pivot at 1.13

The projected trading range for EURUSD for next week is 1.1216 – 1.146:

GBPUSD tested the lower weekly target several times and finished the week a few pips below.

Current signals: Daily Sell, Weekly Sell

Weekly Buy pivot at 1.2615

The projected trading range for GBPUSD for next week is 1.24 – 1.277:

USDCAD continued trading within the uptrend channel, and remained on a buy signal.

Current signals: Daily Buy, Weekly Buy

Weekly Sell pivot at 1.334

The projected trading range for USDCAD for next week is 1.324 – 1.349:

AUDUSD remained under pressure and finished the week just a few pips above the downside weekly target.

Current signals: Daily Sell, Weekly Sell

Buy pivot 0.725.

The projected trading range for AUDUSD for next week is 0.71 – 0.73:

*Please note that the trading signals are in effect as of the close on Friday and may change as soon as the markets re-open. When the current signal is hold, we may also include the preceding buy or sell signal (e.g. Buy/Hold or Sell/Hold). Hold signals followed by a buy/sell signal in the direction of the preceding buy/sell signal can be considered for pyramiding the position.

Charts, signals and data courtesy of OddsTrader, CIT for TradingView and NinjaTrader 8

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