Seven Days Ahead Multi-Asset Technical Strategies Week 17th April 2018

This week's Multi-Asset Technical  Strategy Guide is attached.

CURRENCIES

There is growing evidence that the Dollar is weakening further: against Sterling there is a newly completed pattern in the day chart driving on the weekly trend and against the Yen there is a clear trend in the week chart. Sterling looks perky too, breaking out of a range against the Euro.

STOCKS

Stocks are unclear. There are possible bull and bear structures in the making everywhere. Stand back but watch our levels above and below very closely.

BONDS

International bond markets are, unsurprisingly, in a variety of different conditions. But all remain focused very closely on the US big picture because wide divergence from that is unlikely except in the short-term. And the US is teetering on the brink of breakdown, sitting on very long-term bull trend support. That has yet to break. UK Gilts are most closely aligned to the US TNotes. Bunds and JGBs have been, and remain, more bullish.

COMMODITIES

Oil has begun a new bull leg. The bulls are in charge long, and medium and short-term. Gold is testing long-established resistance, a break of which would established a powerful bottom formation and drive the market a good deal higher.