5 Mar: Trend table outlook for FX, Commodities, Indices.

By | March 5, 2018

It all looks rather mixed on Monday although EurUsd and the Euro/Crosses do look bid in the short term. Further out, the picture is a little more confused for the Euro as it looks set to remain heavy against the Yen, while bid against the Aud, so maybe selling AudJpy is the answer! The Aud looks set to remain underpinned, in the near term, against the US$ but heavy further out, while the Jpy seems set to remain firm on all fronts for the foreseeable future.  In the longer term, all things being equal with regards to tariffs etc, I still like the US$ higher, underpinned by stronger US data, so look for levels to buy it.

In other markets, stocks remain highly volatile, while the metals are choppy but without too much direction. WTI does seem to have a bit more upside in the near term but remains within the range above 60.00 and seems set to remain so.

*Trade of the day: 5/3/2018 8:45 AM (AET)            

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

Buy EurUsd @ 1.2285. SL @ 1.2245, TP @ 1.2360

Sell EurUsd @ 1.2390. SL @ 1.2435, TP @ 1.2285

Buy AudUsd @ 0.7735. SL @ 0.7710, TP @ 0.7800

Sell AudUsd @ 0.7815. SL @ 0.7855, TP @ 0.7735