Kathy’s NY Trading Calls 08.18.2017 – EURJPY, USDCHF

*Good morning/afternoon everyone!*

The U.S. dollar extended its losses overnight as the sharp sell-off in stocks spilled over to foreign markets. This time not only did the greenback fall versus the Yen, but it also traded lower against other major currencies, which is a departure from yesterday’s price action. U.S. yields are giving up earlier gains and appear poised to turn lower. This means that USD/JPY could see further losses but equities are key as the “flat” open could turn into a more meaningful move as the day progresses. The University of Michigan consumer sentiment index is scheduled for release and given the recent increase in wages and record highs in stocks, consumer confidence may have improved in the month of August. We also have the Canadian CPI due for release and rebound is expected after last month’s contraction. The best performing currencies this morning are AUD and NZD which are finally waking up to the U.S. dollar’s troubles and while both currencies appear strong, today’s rallies have taken them to key moving average resistance.

*The MAIN THEMES I see today are*

-USD
+CHF
+AUD
+NZD
+GBP

mildly -EUR and +CAD

*Trading Biases*

-USD
+CHF, +AUD, +NZD, +GBP
mildly -EUR and +CAD, +JPY

*Today’s Potential Ideas*

1. Sell EURJPY 128.11, Stop 128.51, Target 127.91
2. Sell USDCHF at market now 0.9612, Stop 0.9652, Target 0.9592

Cancel ALL pending orders by 3:30PM NY / 19:30 GMT / 5:30AM AEST
Close ALL open day trades by 4PM NY / 20 GMT / 6AM AEST

Swing

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