The dollar is mixed on Thursday, and in the short term at least it looks as though this could continue this way as the market digests the outcome of the trade tariffs. Th Aud$ is once again at session highs and the charts do suggest that further gains may lie ahead so buying dips, both against the US$ and on the crosses(Euro, Gbp, Jpy) seems to be the plan.
Note that the daily charts though for both the AudUsd and also the Eur Usd do appear to be putting a head-shoulder base into place which could see both head quite sharply higher over the course of the next couple of months,
Elsewhere, Sterling still seems to be a buy on dips, despite Brexit concerns, while the Kiwi seems set to follar the Aud higher, at least in the short term.
Stocks still look to be headed higher although any major escalation of the trade war would impact on growth prospects and we could then see a slide lower. Right now this looks unlikely, and trading from the long side is preferred.
Elsewhere, the signals are not strong, (although WTI looks as though it wants to break to the topside. Above 71.60 suggests 72.75) so a cautious stance is required and it looks like another day of waiting on trade-war developments.
*Trade of the day: September 20, 2018 6:22 AM(AET)
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Range Trade: EurUsd: 1.1625//1.1725 (SL 30 points either side)
Buy AudUsd @ 0.7220. SL @ 0.7195, TP @ 0.7315
Buy WTI @ 70.10. SL @ 69.80, TP @ 72.50
Sell GbpAud @ 1.8150. SL @ 1.8220, TP @ 1.7915