The US$ generally looks set to remain under medium term pressure, and buying dips in the Eur and Gbp does look to remain the ongoing theme – although it may be that we head into sideways mode ahead of Thursday’s ECB Meeting. The BOJ meet today, and the short term US$/Jpy charts look positive although the longer term momentum indicators still appear heavy, so selling rallies may be an option. The Aud is approaching the 200 Month MA and may be worth a speculative sell, but with a tight SL in place
In the crosses, the Yen looks set to be under short term pressure, while Cable looks good for further gains. GbpJpy anyone?
Stocks look set to continue their one-way street higher, while the commodities look mixed/neutral, and are best left alone.
*Trade of the day: 1/23/2018 8:39 AM (AET)……
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Buy GbpUsd @ 1.3900. SL @ 1.3840, TP @ 1.4070
Buy EurUsd @ 1.2185. SL @ 1.2280, TP @ 1.2135Sell
AudUsd @ 0.8055 SL @ 0.8075, TP @ 0.7950