There is not a lot to go on at the start of the week, at least according to the charts, although a successful outcome from the US/China trade talks will see a “risk-on” mood run through the markets which would most likely benefit the stockmarkets and commodity bloc currencies, in particular.
I think in front of any decision on the trade talks we are likely to see choppy but directionless trade, with most players sitting on their hands. On that basis, there are no directional trade recommendations today, but note that the DXY daily momentum indicators do seem to be turning a little lower so I don’t think we should expect too much US$ strength for the time being.
Of note in the trend table, it is worth noting that both UsdCnh and AudCad look heavy on all time frames.
*Trade of the day: February 25, 2019; 10:35 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.
Range Trade: EurUsd: 1.1290/1.1390 (SL 30 pips either side)
Range Trade: AudUsd @ 0.7170/0.7070. (SL 30 pips either side)