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

By | March 29, 2019

The US$ is generally firmer and in the short term at least this looks likely to remain the case although the medium/longer term momentum indicators remain fairly neutral. I am happy to stay short EurUsd and also short AudUsd.

Sterling today looks very heavy as the Brexit process disintegrates, ahead of yet another vote supposedly due later today. I don’t wish to be involved in Cable although the charts look heavy on all the Sterling crosses and maybe the more directional of all the currency pairs today.

US stocks look mildly bid in the short term but in the absence of any major US data today I suspect will be rather rangebound.

The precious metals suddenly look very heavy in the short term, while they remain pretty much neutral, further out. I prefer to sell rallies as I think we are going to see a stronger dollar down the road, but right now the medium term indicators are neutral, so stand aside.

———————————————————————————————————————

*Trade of the day: March 29, 2019; 8:35 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.

Sell EurUsd @1.1265. SL @ 1.1405, TP @ 1.1175

Sell AudUsd @ 0.7110. SL @ 0.7155, TP @ 0.7050

Buy AudUsd @ 0.7015. SL @ 0.6990, TP @ 0.7100

Range Trade: S+P: 2840/2790 (SL 20 pips either side)