24 Apr: Trend table outlook for FX, Commodities, Indices

By | April 24, 2018

The US$ is picking up speed and appear set to break out of its long term consolidation. The DXY needs a daily close above 91.00 to confirm this (Today saw a high of 90.99; Currently 90.93) but buying any dips in the dollar does seem to be the plan. The hourlies are generally approaching overbought/sold levels so we could see a minor correction lower in the dollar today but the theme is generally to trade from the long side. The metals look heavy today and will come under further pressure if the dollar does head higher, while WTI looks headed to 70.00 and above.  The crosses look messy and are best left alone while the dollar seems to be the main game in town.

*Trade of the day: 4/24/2018 9:01 AM (AET)         

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

Sell EurUsd @ 1.2225. SL @ 1.2280, TP @ 1.2125

Buy US$Jpy @ 108.20. SL @ 107.60, TP @ 110.50

Buy US$Chf @ 0.9740. SL @ 0.9785, TP @ 0.9835

Sell AudUsd @ 0.7635. SL @ 0.7685, TP @ 0.7525

Sell NzdUsd @ 0.7170. SL @ 0.7205, TP @ 0.7090