BKSWING – New EUR/USD, GBP/USD and EUR/CAD Orders for 11.17.2014

It is going to be an extremely busy week in the foreign exchange market and the 2 currencies that we are watching most closely are EUR and GBP. Mario Draghi’s dovish comments on Monday renewed the sell-off in EUR/USD and the fear of another decline in the PMIs could drive EUR/USD to a fresh 2 year low. At the same time, banks are pushing out their expectations for BoE tightening and their dovish views could be reinforced by this week’s CPI and retail sales reports along with the minutes from the last central bank meeting. To take advantage of these opportunities, we are laying out the following pending orders to sell EUR/USD, GBP/USD and EUR/CAD. ** Please remember we remain LONG EUR/CHF at 1.2055

1.Sell EUR/USD at 1.2334

Stop at 1.2394

Close 1/2 at 1.2304

Close rest at 1.2175

2.Sell GBP/USD at 1.5565

Stop at 1.5625

Close 1/2 at 1.5535

Close rest at 1.5425

3.Sell EUR/CAD at 1.3987

Stop at 1.4047

Close 1/2 at 1.3957

Close rest at 1.3625

***Remember, if 2 orders trigger without one hitting T1 first, all other orders are canceled

Swing

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