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

By | March 23, 2018

A sea of red today suggests that the souring of risk sentiment will continue into the weekend. Stocks finished on their lows and look awful, while the commodity bloc currencies are not much better, particularly the Aud$. The big winner would seem to be the Yen, and with US$Jpy currently hanging on precariously above 105.00, it would seem that stops are likely to be triggered on a break, below which there is very little support until 104.00/103.50. That would drag the Yen crosses lower too, with EurJpy and AudJpy both looking very heavy.  Sterling still looks good in the medium term, both against the dollar and on the crosses.

*Trade of the day: 3/23/2018 8:21 AM (AET)         

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

Sell AudUsd @ 0.7725. SL @ 0.7755, TP @ 0.7670

Sell EurUsd @ 1.2350. SL @ 1.2390, TP @ 1.2220

Sell US$Jpy @ 105.70. SL @ 106.20, TP @ 104.00