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

By | February 28, 2018

The US$ seems to be picking up steam and I prefer to trade it from the long side, in being short EurUsd, NzdUsd and AudUsd, and looking to add to positions on any near term rally.

Stock markets look heavy in the short term but the dailies still look constructive so I remain wary of selling into the current weakness although note that the weekly charts do still suggest that we may eventually see further downside. Gold looks heavy while WTI is now back in the middle of its recent range and seems best to be left alone.

In the crosses, EurJpy seems to be headed lower, while AudNzd suggests further upside momentum

*Trade of the day: 2/28/2018 9:06 AM (AET)         

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

Sell EurUsd @ 1.2270. SL @ 1.2310, TP @ 1.2170

Sell AudUsd @ 0.7830. SL @ 0.7870, TP @ 0.7760

Sell Gold @ 1325. SL @ 1335, TP @ 1295