30 Apr: Trend table outlook for FX, Commodities, Indices

By | April 30, 2018

The short term action for the dollar looks corrective, within the great uptrend, for Monday and selling near term rallies may be the plan, while longer term players will be looking to add to long positions if we do see any short term dollar weakness. Thus I have included both a Buy and a Sell order today for EurUsd in the trade ideas, below. The sell order is more a strategic play, while the buy order is more a 24 hour plan with a tight SL. Strategically though, given the bullish look of the indicators for the US$, I prefer to add to current long positions. The Aud looks as though it may have a crack at 0.7600+ and selling into strength above there seems to be a relatively clear trade, but with a SL placed above 0.7645/50.

Stocks and commodities look pretty neutral for now and are best left alone.

The crosses seem to revolve around Cable today and trading these from the short Cable leg appears to be the plan, although Cable itself is highly volatile and very dependent on headlines/data so the moves are sharp, in which case it is possibly best left alone.

*Trade of the day: 4/30/2018 8:51 AM (AET)         

*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.

Sell EurUsd @ 1.2200. SL @ 1.2230, TP @ 1.2100

Buy EurUsd @ 1.2080. SL @ 1.2040, TP @ 1.2180

Buy US$Jpy @ 108.65. SL @ 108.40, TP @ 109.65

Buy US$Chf @ 0.9820. SL @ 0.9770, TP @ 0.9930

Sell AudUsd @ 0.7605. SL @ 0.7645, TP @ 0.7530

Sell NzdUsd @ 0.7120. SL @ 0.7155, TP @ 0.7040