The US$ remains heavy at the start of Tuesday trade and, in the short term at least, trading it from the short side, looking to by dips, seems to be the plan. Further out, the dollar also looks to be losing its upside momentum so some caution is warranted although I suspect that eventually it will resume its longer term uptrend and I am looking for higher levels to sell both the Euro and the Aud$ as well as the metals..
Stocks still look firm, and further gains seem likely, while the metals may be putting in a near term base.
In the crosses, there is not much to go on, although the Jpy looks set to remain relatively firm and looking for levels to sell EurJpy and AudJpy may be an idea..
US$CNH still looks heavy.
By August 21, 2018
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*Trade of the day: August 21, 2018 7:11 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 @ 1.1440. SL @ 1.1395, TP @ 1.1510
Buy AudUsd @ 0.7315. SL @ 0.7290, TP @ 0.7375
Buy NzdUsd @ 0.6610. SL @ 0.6590, TP @ 0.6680
Buy Gold @ 1182. SL @ 1175, TP @ 1195
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 @ 1200. SL @ 1210, TP @ 1130
Sell Silver @ 15.00. SL @ 14.00, TP @ 15.50
