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

By | February 15, 2019

The US$ weakened after the awful US Retail Sales figures and now looks as though it could remain under some pressure heading into the weekend, at least against the Euro,  the Chf and the Jpy. Cable looks heavy while the Aud and the Nzd both look set to be choppy and will take their direction from any headlines coming from any US/China trade talks. The longer term charts for the dollar look rather more neutral, so a cautious stance is required but the daily DXY indicators do remain positive for the dollar so I still prefer to buy dips from a structural point of view.

Sterling looks heavy on all fronts and further negative Brexit headlines will keep it under pressure. I prefer to stand aside from Sterling right now.

In other markets, US stocks do remain underpinned and again, buying dips is favoured although any negative “trade-talk” headlines could see stocks head lower. Right now, investors do not seem to anticipate this happening.

WTI still seems to be a “buy-on -dips” scenario, while the metals are choppy and best left alone right now

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*Trade of the day: February 15, 2019; 10:36 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 @ 0.7140. SL @ 0.7160, TP @ 0.7010

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

Sell EurUsd @ 1.1350. SL @ 1.1380, TP @ 1.1215

Buy US$Chf @ 1.0000. SL @ 0.0.9985, TP @ 1.0140

Sell US$Jpy @ 110.90. SL @ 111.35, TP @ 110.00