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

By | May 2, 2018

As before, the US$ looks set to remain firm according to the longer term charts, although the short term momentum indicators may be hinting at a minor near term correction, so buying dips in the dollar remains the preferred strategy in all the major pairs.

Gold is beginning to look heavy too, and we could be in for a break of 1300, which would target 1280/75. Likewise, WTI seems to have put in a medium term top and looks to have some downside potential.

*Trade of the day: 5/2/2018 8:47 AM (AET)            

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

Sell EurUsd @ 1.2050. SL @ 1.2105, TP @ 1.1935

Buy US$Jpy @ 109.50. SL @ 108.95, TP @ 110.65

Buy US$Chf @ 0.9935. SL @ 0.9885, TP @ 0.1.0035

Sell AudUsd @ 0.7500. SL @ 0.7555, TP @ 0.7380

Sell NzdUsd @ 0.7035. SL @ 0.7090, TP @ 0.6955