There is not much green on the heat map today, possibly reflecting the increased downturn in risk sentiment, as we head towards the G20 meeting at the end of the week.
The action once again looks set to revolve around the stock markets, which still look very heavy, as does WTI although on Friday it did reach important Fibo support (76.4% of 42.03/76.87), which may see some buyers although having closed the week at 13 month lows, a more severe test of 50.00 looks likely. Below 50 would then target 48.00.
In the currencies, both the Aud and the Kiwi look increasingly heavy again, as does the Euro in the short term. Elsewhere it all looks rather rangebound, although Sterling is likely to be highly volatile as the Brexit headlines start rolling in.
*Trade of the day: November 26, 2018; 8:09 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: 1.1365/1.1265 (SL 30 pips either side)
Sell: EurUsd: @ 1.1365 SL @ 1.1405, TP @ 1.1290
Range Trade: AudUsd: 0.7275/0.7200 (SL 30 pips either side)
Range Trade: US$Jpy: 113.50 /112.50 (SL 30 pips either side)
Sell AudUsd @ 0.7280. SL @ 0.7305, TP @ 0.7165