9 May: Trend table outlook for FX, Commodities, Indices

By | May 9, 2018

The US$ uptrend shows no sign of slowing down and so, staying long dollars while leaving room to add to positions into any near term bounce still seems to be the overall plan.

Cable looks to be a bit better underpinned on the crosses and looking to buy GbpAud or to sell EurGbp may be an idea.

Elsewhere, US$Jpy, while not showing any clear technical signals, may be building a head/shoulder top with around 100 pips downside potential. Either selling US$Jpy, with a tight SL, or the Yen crosses (EurJpy/AudJpy) may be worthwhile.

*Trade of the day: 5/9/2018 8:31 AM (AET)         

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

Sell EurUsd @ 1.1900. SL @ 1.1955, TP @ 1.1790

Buy US$Chf @ 0.9970. SL @ 0.9930, TP @ 1.0100

Sell NzdUsd @ 0.7000. SL @ 0.7035, TP @ 0.6875

Sell AudUsd @ 0.7480. SL @ 0.7530, TP @ 0.7385

Sell US$Jpy @ 109.45. SL @ 109.80, TP @ 107.80