6 Apr: Trend table outlook for FX, Commodities, Indices.

By | April 6, 2018

Stocks are higher again today and that looks set to continue, at least according to the charts, although all will depend on the outcome of today’s jobs data. The US$ also seems to be picking up a bit of steam and in general I prefer to be short of the Euro and long US$Chf and US$Jpy. If correct, this will also impact on the commodity bloc although the charts look less certain of any directional move. The Aud actually looks as though it could make some gains through the crosses, so as with yesterday,  buying AudJpy on dips or selling EurAud or GbpAud into rallies may be a plan.  AudNzd still looks heavy but is approaching strong support and is showing some bullish divergence so care is needed here and stops on shorts should be kept tight.

No firm trade ideas today ahead of the NFP but overall I prefer to be long US$, long stocks and possibly long the Aud crosses.

Possibly look to :

Sell EurUsd@ 1.2270. SL @ 1.2305, TP @ 1.2170

Sell AudUsd @ 0.7700 SL @ 0.7730, TP @ 0.7625

Buy AudJpy@ 82.00. SL @ 81.50, TP @ 83.25

*Trade of the day: 4/6/2018 8:47 AM (AET)                                                     

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