20 Nov: Trend table outlook for FX, Commodities, Indices.

By | November 20, 2017

 

The start of the week looks rather mixed but the overriding theme seem to be one of ongoing Yen strength and Aud and Kiwi weakness, and playing these through the crosses may be a more positive outcome than looking to trade against the US$. I like long Eur and Gbp against the Aud (& Kiwi) and also like the idea of being short AudJpy. Note that the short term momentum indicators for the AUD$ are pointing a bit higher so there may be better levels to sell it than the Friday close. As far as the US$ goes, a more neutral stance is required although both US$Chf and US$Jpy look as though they may remain under pressure – presumably due to ongoing safe haven demand.

Gold may be looking at a move to levels back above 1300 although Silver is in neutral while WTI is choppy below 57.90 but I still think that buying dips is the way to go, looking for an eventual test of 60.00.

*Trade of the day: 11/19/2017 2:51 PM (AET)……

Sell AudUsd @ 0.7585. SL @ 0.7610, TP @ 0.7515

Buy GbpAud @ 1.7350. SL @ 1.7210, TP @ 1.7575

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

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