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

By | November 22, 2018

It has been a mostly choppy session, and ahead of Thanksgiving Day it would seem that we are set for more of the same, possibly leading into the weekend.

Stocks look a little more positive on Thursday, but would again seem to be a sell-the-rally scenario, while the metals look mildly positive in the near term although any further gains would probably rely on a lower US$, which seems unlikely today.

The positive session in stocks seems set to underpin the Aud$ and also US$Jpy today, but once again, any moves look to be limited.

Overall, expect it to be choppy and rangebound.

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*Trade of the day: November 22, 2018; 8:18 AM(AET)                   

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

All trades are good till 5.00pm NY time. All “in the money trades” should have the SL raised to break-even, or managed manually. All “out of the money trades” should keep original SL in place.

Sell: EurUsd: 1.1325/1.1425 (SL 30 pips either side)

Sell: EurUsd: @ 1.1435 SL @ 1.1465, TP @ 1.1290

Range Trade: AudUsd: 0.7300/0.7210 (SL 30 pips either side)

Range Trade: US$Jpy: 113.50 /112.50 (SL 30 pips either side)

Sell AudUsd @ 0.7285. SL @ 0.7305, TP @ 0.7165

Sell NzdUsd @ 0.6875. SL @ 0.6905, TP @ 0.6775