14 Dec: Trend table outlook for FX, Commodities, Indices

By | December 14, 2018

There is a lot of blue on the heat map today indicating the high level of indecision currently running through the markets. The Currencies in particular remain choppy and choosing a range with a tight stop loss in place seems to be the plan for most FX pairs.

The only thing that I can see is that Sterling looks a bit more positive today, at least from a short-term technical perspective, and GbpAud may be building a reverse head/shoulder formation, possibly targeting 1.7800/20 so it may be worth buying a break of the neckline at 1.7550

As before, Gold is still unable to break above 1250 and is now at 1243, and with the charts rolling over, selling the rally towards 1250 with a tight SL above 1255 may be the plan here.

WTI remains choppy and headline driven so I would tend to avoid or to play a wide range above 50.00, with stop losses placed above 55.00 or below 49.25.


*Trade of the day: December 14, 2018; 6:45 AM(AET)                    

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

All trades are good till 5.00pm NY time. All “in the money trades” should have the SL raised to break-even, or managed manually. All “out of the money trades” should keep original SL in place.

Range Trade: EurUsd: 1.1300/1400 (SL 30 pips either side)

Range Trade: AudUsd: 0.7170/0.7270 (SL 30 pips either side)

Sell AudUsd @ 0.7265. SL @ 0.7295, TP @ 0.7155

Sell EurUsd @ 1.1390. SL @ 1.1430, TP @ 1.1290

Buy GbpAud @ 1.7570 SL. SL @ 1.7470, TP @ 1.7800