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

By | May 22, 2018

It was mostly a choppy session for the US$, which ended up rather mixed. The Euro, Aud and Kiwi all look underpinned today and buying dips seems to be the plan here for the coming session. The short term momentum indicators for US$Jpy look a little heavy but overall, I still prefer to buy dips.

In the crosses, AudNzd still seems to have further upside potential so buying dips is preferred, while EurAud did as we expected in heading lower, and it would seem that there is further to run here. GbpAud also looks very heavy.

Stocks are mostly in neutral, despite Monday’s run higher, although the DJI may be hinting at further gains. I like to look for levels to be short Gold and also to look for levels nearer 70.00 to buy dips in WTI.

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 *Trade of the day: 5/22/2018 6:43 AM (AET)                           

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

Buy EurUsd @ 1.1750. SL @ 1.1700, TP @ 1.1850

Buy US$Jpy @ 110.40. SL @ 109.95, TP @ 111.50