The FX markets look fairly neutral on Tuesday following on from the G20 meeting and there is not an awful lot of directional bias although the Aud and Kiwi both look set to remain underpinned in the near term. While risk sentiment remains positive we may well see them both continue to squeeze higher.
Elsewhere the picture looks much the same and I suspect we are in for choppy conditions around current levels, probably until Friday’s US Jobs/NFP/Average Hourly Earnings data, so range trading markets seems to be the most likely outcome in most products.
By December 4, 2018
*Trade of the day: December 4, 2018; 7:24 AM(AET)
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
All trades are good till 5.00pm NY time. All “in the money trades” should have the SL raised to break-even, or managed manually. All “out of the money trades” should keep original SL in place.
Range Trade: EurUsd: 1.1300/1.1400 (SL 30 pips either side)
Range Trade: AudUsd: 0.7310/0.7390 (SL 30 pips either side)
Range Trade: US$Jpy: 114.10 /113.10 (SL 30 pips either side)
Range Trade: NzdUsd: 0.6880 /0.6960 (SL 30 pips either side)