14 Feb: Trend table outlook for FX, Commodities, Indices

By | February 14, 2019

The US$ has regained yesterday’s lost ground and would appear to be to build on those gains, particularly against the EU majors so trading from the short side does remain preferred from a structural perspective. The Aud and the Kiwi both bounced higher than expected but provided a decent opportunity to sell into and holding on to shorts here remains the gameplan. US$Jpy also looks pretty perky and seems headed for a run towards the 200 DMA at 11.33 and above there, the 100 DMA sits at 111.75.

If the Euro breaks 1.1215 we might expect downside acceleration, while the same applies to the Aud$ below 0.7050.

Elsewhere, WTI had another decent day and I suspect that at some stage we are going to see a decent move higher. Getting set at a decent level remains an issue though so keep a bid in place at lower levels at around 51.00.

In other markets, the US stocks look healthy, while the ASX still looks OK in the medium/long term, and buying dips may be a plan here.

Keep an eye on the metals, which look heavy, with Silver possibly leading the way down.

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*Trade of the day: February 13, 2019; 10:54 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 AudUsd @ 0.7130. SL @ 0.7160, TP @ 0.7010

Buy AudUsd @ 0.7050. SL @ 0.7010, TP @ 0.7120

Sell EurUsd @ 1.1340. SL @ 1.1380, TP @ 1.1215

Buy US$Chf @ 1.0040. SL @ 0.0.9985, TP @ 1.0140

Sell Silver @ 15.55 (Current Market Price). SL @ 15.90, TP @ 14.80