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

By | April 18, 2018

Stock markets seem set to continue their recent rally and trading from the long side is favoured. Currencies look less clear but I still like to be long US$Chf and to look for levels to buy Sterling, although the short term momentum indicators hint that there may be better levels to do so. If so, I suspect a better trade than GbpUsd may be to look for levels to sell EurGbp. All up, the currency markets are difficult, which is flowing through to the metals, so a fairly nimble stance is needed. WTI, I still prefer to buy dips.

*Trade of the day: 4/18/2018 8:21 AM (AET)         

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

Buy US$Jpy @ 106.70. SL @ 106.40, TP @ 107.70

Sell EurGbp @ 0.8690. SL @ 0.8715, TP @ 0.8590

Sell GbpUsd @ 1.4350. SL @ 1.4380, TP @ 1.4250