The US$ has turned a bit lower today but remains largely within the pre-defined ranges so another range trade day may be on the cards although Sterling is likely to be volatile once the UK no-confidence vote is sorted out – any time now, so I would stay away from that.
As before, stocks remain highly volatile on the back of news headlines with regards to the trade war situation, but I still prefer to trade from the short side, in selling rallies, although picking levels is tricky. The short term charts are looking mixed- to-slightly-positive so we may see better levels again today, but the longer term charts remain negative.
Gold is still unable to break above 1250 and is now at 1244, and with the charts appearing to be rolling over, selling a rally towards 1250 with a tight SL above 1255 may be the plan here.
WTI is too choppy and headline driven so I would tend to avoid or to play a wide range above 50.00, with stop losses placed above 55.00 or below 49.25.
*Trade of the day: December 13, 2018; 6:11 AM(AET)
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
All trades are good till 5.00pm NY time. All “in the money trades” should have the SL raised to break-even, or managed manually. All “out of the money trades” should keep original SL in place.
Range Trade: EurUsd: 1.1300/1400 (SL 30 pips either side)
Range Trade: AudUsd: 0.7170/0.7270 (SL 30 pips either side)
Sell AudUsd @ 0.7255. SL @ 0.7285, TP @ 0.7155
Sell EurUsd @ 1.1390. SL @ 1.1430, TP @ 1.1290