The overall theme of trading the US$ from the long-side, looking to add to positions into near-term dips, remains intact, with the Euro and the Kiwi looking to be the weakest links. In the crosses, I still like AudNzd to trade higher. Gold took a hit on Tuesday and it seems to have further downside potential ahead of it, so looking to sell near 1300, with a relatively tight stop loss could be a plan.
Stocks seem to have further upside potential according to the daily charts, but with US yields heading higher I would be very cautious if long. I prefer to sell into strength. WTI still seems to be a buy on dips scenario.
*Trade of the day: 5/16/2018 7:34 AM (AET)
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Sell EurUsd @ 1.1885. SL @ 1.1925, TP @ 1.1785
Sell AudUsd @ 0.7500. SL @ 0.7540, TP @ 0.7400
Sell NzdUsd @ 0.6900. SL @ 0.6945, TP @ 0.6800
Buy US$Chf @ 0.9980. SL @ 0.9940, TP @ 1.0100