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

By | February 26, 2018

After a quiet end to the week the currency charts look rather neutral on Monday and I suspect it maybe a fairly rangebound session unless we see any major moves, either way, in risk sentiment The daily charts against for US$/Majors, do still suggest that for now, buying dips may be the way to go.

In the crosses, the Aud$ looks better underpinned, while the Kiwi looks heavy and it maybe that looking to buy that cross is now a possible trading idea although 1.0770 (200 WMA) will be decent resistance.

The stock markets appear set to continue their recovery, although the weekly charts do still hint at the chance of some medium term downside action. The Fed’s new chair, Powell, will not wish to rock the boat at his Testimony to Congress this week’s though so I would expect stocks to continue higher. The metals look choppy and will follow the US$ around, while WTI looks as though it may want to take another peek at 65.00+. Have a good week.

*Trade of the day: 2/26/2018 8:08 AM (AET)          

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

Buy AudNzd @ 1.0700. SL @ 1.0640, TP @ 1.0820