Markets are pretty much unchanged today, after a rangebound session in all the markets while waiting on the FOMC decision. There are no FX trade recommendations today as I think ranges will be very tight, and then all will depend on the outcome from the Fed. Keep an eye on EurJpy, which seems to have some medium term upside momentum.
Out of choice I prefer to be long US$, because the data in the US suggests that the economy is running at close to full capacity and that the dot-plot from the Fed will indicate 2 hikes this year (Sept/Dec) and then another 4 in 2019.
The US stock indices look a little heavy again today but remain healthy further out, so buying dips still seems to be the plan, although probably wait until after the Fed announcement.
The metals remain rather choppy, albeit Silver is a little higher today, so I think for now they are best left alone.
WTI remains interesting after having broken and closed above the neckline of the reverse Head/Shoulders. 72.70 is significant (Fibo) resistance, but above here the H/S target is at around 80.00. Look to buy dips near current levels, with a SL placed at 71.00.
*Trade of the day: September 26, 2018 6:52 AM(AET)
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Buy WTI @ 71.80. SL @ 71.40, TP @ 74.00