Stocks look set to remain underpinned although the currency markets are neutral ahead of today’s Testimony to Congress from new Fed Chair, Jerome Powell. It would seem to be pretty much rangebound until then although it does seem that the US$ might be ready to turn a little higher against the Yen and the Chf in particular, while the commodity currencies may come under some medium term pressure. EurJpy may also be a sell on rallies although I am not convinced.
WTI seems set to take a look at 65.00, so buying dips towards 63.00 is preferred.
*Trade of the day: 2/27/2018 7:05 AM (AET)
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Sell EurUsd @ 1.2350. SL @ 1.2385, TP @ 1.2235
Buy US$Jpy @ 106.65. SL @ 106.15, TP @ 107.80
Sell AudUsd @ 0.7880. SL @ 0.7780, TP @ 0.7910