Morning all,

Welcome to a new week, and a few new readers which is nice to see. Thanks for your support.

For the newer readers amongst you who are unfamiliar with my reports. I usually Start with the Crude and Gold then move on to the Currency pairs.

So lets get cracking. 60m Crude and Gold telling me that they are ready for more falls, BUT we must be very careful here or else the plan for the currencies goes pork-bellie-up.
Both Crude and Gold are actually above their pivots which is indicative that we could see some upside this morning session.
Hmmm, interesting. There seems to br so much resistance above on the Gold that a break looks difficult BUT the 21CCI is up and on Crude it is trying. Crude fell almost 2000 pips last week so a small pullback to the 60m 50 at least could be on the cards to $131.50 from the current $129.50 IF the pivot holds. It's not looking overly attractive on the shorter timeframes and would much prefer to trade with the 4hr trend but it's doubtful there will be a huge amount of action until this afternoon .
I'll be waiting for a clearer direction but we all know to do in either curcumstance.
I was long Cable last week just prior to crude dumping and I did not hesitate to take a measley 7 pips from the trade.
No less than 10 minutes later Gold followed suit and my lovely long position was now more like a short, some 50pips lower.
Forget that I want 30, I want 50. If crude starts bossing Gold about, play it safe and get your cash in your pocket.

As I slightly favour Gold & Crude to the upside this morning, I am also touting a weaker Dollar.
On the currencies that would usually mean looking for a long position on EURUSD and GBPUSD and/or shorts positions on USDJPY & USDCHF but that's not telling me anything either.
Euro looks like it wants to move a bit higher with Pound looking more likely to fall. USDJPY looks like it wants to move higher whilst USDCHF looks like it want to fall.
So a bit of a mixed impression, but if I zoom in to the 5m. I can see a little Dollar Weakness creeping in.
My 15m 20 has crossed the 50, so a fall below 106.65 might pave the way for a retracement play on the USDJPY. It's gone 300 pips in a straight line pretty much and will have to pullback at some point. Just as soom a Gold and Crude make up their minds we'll know whether that's going to be today or not, but I won't be buying into it at these levels.

Euro is looking pretty good to the upside on the 5m athough its moved a bit already. Swissie to the downside if you pick your entry right.
Also worthy of a mention is the CHF PPI numbers out in a couple of hours so be careful with the last 2 mentioned possibles.
Without GBPUSD agreeing I am tempted to leave him on the sub's bench today.
Techinally it's set for a fall, but IF Crude and Gold find support that will possibly limit the downside.
IF they don't find support then this would be my best play.

Rememeber my golden rule. Stay pro-active and trade the currencies in accordance to what the Chairman & Coach are doing.

Have a good morning all. I'll be back before Midday.

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I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session