16 Apr: Trend table outlook for FX, Commodities, Indices.

By | April 16, 2018

There is once again very little to go on at the start of the week and more choppy sideways trade looks set to dominate the price action and a cautious stance is required in all markets.

The only thing that I can see is that, having tested and failed the upside on Friday, the Aud and the Kiwi may now both want to take a more sustained look at levels back under 0.7750/0.7350 respectively. Having said that, both the daily carts for these pairs look constructive, so if we do see a slide lower, it may be just to provide a more medium term buying opportunity – although the long upper wicks on the daily charts do suggest that a top may be in place. All too confusing!

I still prefer to sell rallies in the Aud and Nzd and currently to buy dips in US$Jpy.

Sell NzdUsd @ 0.7415. SL @ 0.7445, TP @ 0.7315

Sell AudUsd @ 0.7810. SL @ 0.7845, TP @ 0.7700

Buy US$Jpy @ 106.80. SL @ 106.45, TP @ 107.80

*Trade of the day: 4/16/2018 7:20 AM (AET)         

*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.