21 Sept: Trend table outlook for FX, Commodities, Indices

By | September 21, 2018

It is full “risk-on mode” heading into Friday trade with stocks at (or near) new all-time highs, while the FX markets have seen the US$ head sharply lower. From the look of the charts, it would appear that this move has further to run and trading the dollar from the short side  against any of the other major pairs does seem to be the way to go.

On the FX crosses, being short the Jpy looks to be the play, against any of the other major currencies.

The metals remain rather choppy, as does WTI, so I think for now they are best left alone. It may be that Gold is about to turn higher, so buying dips could be a plan here, but I suspect there may be better trades to be seen.

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*Trade of the day: September 21, 2018 7:01 AM(AET)                    

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

Range Trade: EurUsd: 1.1740//1.1840 (SL 30 points either side)

Range Trade: AudUsd: 0.7260//0.7310 (SL 50 points either side)

Buy AudUsd @ 0.7185. SL @ 0.7135, TP @ 0.7265

Buy EurJpy @ 132.00. SL @ 131.50, TP @ 133.00

Buy EurUsd @ 1.1730. SL @ 1.1690, TP @ 1.1820