Commodities leading the way for this week….

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AUDUSD
Shorted on Thursday 10th July. Price action showing that price is not ready to come down as yet as we have long wicks both side and the 11th July candle is small which means that the momentum is not there yet. Will monitor price action for bearish signals or make take out with small profit. Target to downside is 0.9334 followed by 0.9242.

NZDUSD
Price is trading at the 3 year high. If price manage to close above 3 year high of 0.8846, then we would see more momentum to the upside. Daily chart shows upside momentum is dying down. Wait for price action to determine the next move. Target to downside is 0.8740, followed by 0.8675 and final target at 0.8545

GOLD
Momentum on the upside as price closed above April high. Buy on pull backs. Next target is 1347.97.

SILVER
Same as gold, momentum is on the upside. Buy on pull backs and next target is 21.75.

Crude Light
Trading in a triangle. Momentum is to the downside. Price action shows higher highs. See if price will reject the98.20 area marked in blue.