17 May: Trend table outlook for FX, Commodities, Indices

By | May 17, 2018

The US$ does appear likely, at least in the short term, to see some corrective action against the Euro and the Aud$ although looking to sell into any strength by those two currencies, ahead of the continuation of further dollar strength does seem to be the plan. The Aud$ seems to have the most upside potential of the two, with direction today to be dominated by the Australian Unemployment data.

Elsewhere it looks a little messy. Gold remains heavy, while Oil looks set to remain firm in the medium term.

On the crosses, AudNzd still looks firm, while GbpAud looks a little heavy

———————————————————————————————————————————————————-

*Trade of the day: 5/17/2018 8:15 AM (AET)                           

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

Short term: Buy EurUsd @ 1.1750. SL @ 1.1695, TP @ 1.1850

Medium Term: Sell EurUsd @ 1.1925. SL @ 1.2005, TP @ 1.1785

Buy AudUsd @ 0.7470. SL @ 0.7540, TP @ 0.7570

Sell AudUsd @ 0.7590. SL @ 0.7615, TP @ 0.7470

Sell NzdUsd @ 0.6970. SL @ 0.7010, TP @ 0.6850

Buy US$Chf @ 0.9960. SL @ 0.99300, TP @ 1.0100