19 Apr: Trend table outlook for FX, Commodities, Indices

By | April 19, 2018

Sterling did a sharp about turn from the trend highs after Wednesday’s soft UK inflation data, with the result that Cable now looks heavy against both the US$ and also on the crosses. For the time being selling rallies here is preferred, and with the Australian jobs data coming up it maybe that selling GbpAud is the best bet.

Elsewhere, US$Chf still looks good for further gains, but really needs a daily close above 0.9700 to add confidence, while AudNzd also seems to have bottomed out for now and appears capable of further upside momentum.

Oil still looks good to be traded from the long side. Silver also had a sharp squeeze higher but Gold remained unmoved so I would tend to leave it alone. The indicators though do hint at further Silver strength, which could eventually lead Gold higher.

*Trade of the day: 4/19/2018 8:28 AM (AET)         

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

Buy US$Chf @ 0.9660. SL @ 0.9620, TP @ 0.9760

Sell GbpUsd @ 1.4280. SL @ 1.4320, TP @ 1.4185