The dollar is firmer on Monday after some mixed data on Friday, with the Aud$ and the Euro both recovering some of their previous lost ground.
However, things look a little unclear early in the week and, with the charts looking generally mixed, a cautious stance is warranted on Monday.
Interestingly, as we said on Friday, despite the soft US$ seen last Thursday, Gold was unable to make any gains, possibly giving us a hint of a turn to US$ strength. Indeed, Gold lost another $7oz on Friday and it is still looking heavy, suggesting that the dollar may be able to make more of a sustained recovery. Also note that the DXY had a bullish outside day on Friday, so I do prefer to buy dips in the dollar early in the week.
Stocks remain in neutral – so best avoid. WTI is too choppy, so again – avoid.
By September 17, 2018
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*Trade of the day: September 15, 2018 7:08 AM(AET)
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
Range Trade: EurUsd: 1.1675//1.1575 (SL 30 points either side)
Sell AudUsd @ 0.7185. SL @ 0.7225, TP @ 0.7100
Sell EurUsd @ 1.1685. SL @ 1.1725, TP @ 1.1535
Sell Gold @ 1200. SL @ 1207. TP @ 1175
