The short term momentum indicators all look rather dubious for the US$ and further losses would seem to lie ahead for the coming session. The longer term charts are rather mixed though and I still think that despite the current weakness, this should be limited given the future outlook from the Fed following the FOMC Meeting – with the caveat that a trade war would probably further damage the dollar. Trump will announce high China policy on Friday. The commodities currently look constructive, with WTI looking particularly bright.
*Trade of the day: 3/22/2018 7:44 AM (AET)
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Buy EurUsd @ 1.2285. SL @ 1.2235, TP @ 1.2385