After the profit taking seen in the currency markets on Friday, the US$ ended the week with only marginal gains from the previous week, so a rather neutral outlook is required today.
The short term momentum indicators suggest the chance of further, minor dollar weakness although the longer term charts still hint that the dollar’s bull run will eventually resume. The same applies to the metals, while the stock markets look increasingly positive for a potential break to new all time highs.
By August 20, 2018
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*Trade of the day: August 20, 2018 6:54 AM(AET)
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Short term
Buy EurUsd @ 1.1400. SL @ 1.1370, TP @ 1.1500
Buy AudUsd @ 0.7285. SL @ 0.7375, TP @ 0.7240
Buy NzdUsd @ 0.6605. SL @ 0.6590, TP @ 0.6680
Buy Gold @ 1175. SL @ 1170, TP @ 1190
Buy Silver @ 14.60. SL @ 14.30, TP @ 15.00
Medium term
Sell EurUsd @ 1.1520. SL @ 1.1610, TP @ 1.1300
Sell AudUsd @ 0.7375. SL @ 0.7425, TP @ 0.7225
Sell Gold @ 1195. SL @ 1210, TP @ 1130
Sell Silver @ 15.00. SL @ 14.00, TP @ 15.50
