23 Feb: Trend table outlook for FX, Commodities, Indices.

By | February 23, 2018

Any further dollar strength failed to materialise on Thursday, and it is a little lower today leaving the outlook rather mixed heading into the weekend. The short-term momentum indicators are all looking somewhat heavy although the dailies still point to the chance of a slightly higher dollar over the next few days, but possibly till next week. All rather confused, and it may be a day of range trading ahead of the weekend although the EU CPI will provide any directional bias, with nothing to come from the US today apart from Fed speakers.

The US indices look set to remain choppy, while WTI is beginning to point higher again.

In the crosses, EurJpy stands out as being a possible sell, at least from a technical perspective. AudNzd may also be a sell as a close at current levels would see the cross finish the week below both the 100 WMA/200 WMA for the fist time since last July.

*Trade of the day: 2/23/2018 7:10 AM (AET)

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

No trade today.