28 Mar: Trend table outlook for FX, Commodities, Indices

By | March 28, 2019

After a mostly choppy session, the main themes seem to be ongoing weakness in the Kiwi and mild strength in Sterling. I am not really keen on trading Sterling as it is too reliant on Brexit headlines, but I do suspect that we could see a run towards 1.3400 at some stage. Selling rallies in the Kiwi, looking for a break lower towards 0.6750 and then towards 0.6700 may be a plan, although any real move today is going to depend on the US data.

On the crosses, buying StgAud or StgNzd may be a plan, while selling EurGbp is also an idea but it has been very choppy recently so I prefer to stand aside.

Elsewhere the metals look a little heavy in the short term but pretty neutral further out, so looking to sell a short term rally may be a plan here although the overall range looks set to hold.

The stock indices look pretty much rangebound but we may see a directional move after the US data.

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*Trade of the day: March 28, 2019; 9:31 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.

Sell EurUsd @1.1300. SL @ 1.1335, TP @ 1.1175

Sell AudUsd @ 0.7115. SL @ 0.7155, TP @ 0.7050

Buy AudUsd @ 0.7020. SL @ 0.6990, TP @ 0.7100

Buy GbpAud @ 1.8550. SL @ 1.8450, TP @ 1.8750

Range Trade: WTI: 59.00/61.00 (SL 75 pips either side)

Range Trade: S+P: 2845/2785 (SL 20 pips either side)