The start of the week looks rather mixed and as liquidity dries up ahead of the holiday period I am not sure that I want to be too involved.
The clearest signals are in the stock markets, which look set to continue their never-ending rise into 2018, but elsewhere the picture looks cloudy. Overall, the dollar seems likely to stay underpinned as we approach the final lap towards passing the US tax bill, which now seems destined to happen before the end of the year although for Monday the charts are offering little hint of any directional move. US$Jpy and US$Chf seem to be the clearest signals, possibly being the beneficiaries of another stock market rally.
*Trade of the day: 12/18/2017 6:59 AM (AET)……
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Buy US$Jpy @ 112.20. SL @ 111.85, TP @ 113.25
Range Trade: Monday: EurUsd 1.1780/1.1680
Range Trade: Monday US$Chf: 0.9880/0.9950
Sell AudUsd @ 0.7670. SL @ 0.7705, TP @ 0.7580