13 Nov: Trend table outlook for FX, Commodities, Indices

By | November 13, 2018

There is a lot of red on the heat map today and trading the US$ from the long side and stocks from the short side seems to be the general plan.

In particular selling EurUsd into rallies with a SL placed just above 1.1300 seems to be an idea. I also think that the Aud and Kiwi are going to remain under pressure.

I would leave Sterling alone against the dollar, and also the Jpy and Chf, as they may be in demand if a safe-haven mood sets in.

On the crosses, both AudJpy and NzdJpy look heavy in the short term, and with AudNzd also looking heavy it may be that AudJpy is the better bet.

The metals look heavy and a break of 1200 (Gold) and 14.00(Silver) looks imminent.

WTI still looks very heavy but is highly volatile. Having managed to get set at yesterday’s sell level recommendation at 61.00, it has now fallen through 59.00, currently at 58.80. I think I would square up here and look to resell another rally towards 60.50.

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*Trade of the day: November 13, 2018 7:27 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.

Sell EurUsd @ 1.1270. SL @ 1.1320, TP @ 1.1110

Range Trade: US$Jpy: 114.30.10 /113.30 (SL 30 pips either side)

Range Trade: AudUsd: 0.7210/0.7120 (SL 30 pips either side)

Sell AudUsd @ 0.7200. SL @ 0.7240, TP @ 0.7100

Sell NzdJpy @ 76.85. SL @ 77.10, TP @ 76.15

Sell WTI @ 60.50. SL @ 61.30, TP @ 59.00