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

By | April 9, 2018

It is all going to be about the stock markets again early in the week as trade-war headlines dominate the direction. The NFP figures were uninspiring for the currency markets although the dollar did generally close a little lower against most of the majors. This could well be the them again on Monday as the short term momentum indicators do look a little heavy, while further out the charts are beginning to look somewhat neutral, suggesting further choppy consolidation but without much directional bias.

In the crosses, Aud$ weakness seems to be at the forefront of the action for the coming session although the dailies suggest that buying dips may be the medium term play. Aud/Nzd though looks heavy on all fronts.

WTI also looks heavy and may see a run back towards the decent support at 61.20 (100 DMA) or even towards 60.00 in the days ahead. Much will depend on the US/China trade war rhetoric.

Sell AudUsd @ 0.7700 SL @ 0.7730, TP @ 0.7625

Range trade EurUsd 1.2225/1.2325

Buy AudJpy@ 81.80. SL @ 81.40, TP @ 82.50

*Trade of the day: 4/7/2018 7:51 AM (AET)                                                     

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