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

By | May 23, 2018

It was another choppy session for the US$, which ended up rather mixed. This looks likely to continue until the release of the FOMC Minutes, later today,  although the EU PMIs may provide some interest. The overall medium term theme of buying dollars remains intact.

In the crosses, the Aud looks set to outperform, and AudNzd still seems to have further upside potential so buying dips is preferred. EurAud would seem set to stay heavy, as does GbpAud..

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: 5/23/2018 8:17 AM (AET)                           

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

Sell EurUsd @ 1.1825. SL @ 1.1870, TP @ 1.1720

Buy AudUsd @ 0.7525. SL @ 0.7495, TP @ 0.7635

Sell AudUsd @ 0.7605. SL @ 0.7640, TP @ 0.7505

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