Today’s Trades 03.26.2018 – EURUSD, USDCAD, USDJPY

*Good morning/afternoon everyone!*

Most of the major currency pairs are trading higher this morning as an initial sell-off in Asia turned into gains for Japanese and HK equities. European stocks are also in positive territory as Dow futures point to a sharply higher open. Investors are relieved that Friday’s sharp sell-off did not turn into additional losses for currencies & equities and this strength could carry over to the North American session. This is the first day of trade ahead a long weekend for most investors (Easter Holiday). The lack of major economic reports points to consolidation but political headlines and Japan’s fiscal year end could affect FX trade. With that in mind, yields are up across the board, supporting the idea of a further risk rally. The good news is that US and Korea have reached an agreement that exempts S. Korea from steel tariffs. The U.S. and China were also in talks over the weekend that could ease trade war fears. The New Zealand dollar is the best performer, rising strongly on the back of an unexpected trade surplus while the Canadian dollar lags behind.

*The MAIN THEMES I see today are*

+EUR
-CAD
+AUD
+NZD

*Trading Biases*

+EUR, +AUD, +NZD, +GBP, +CHF
-JPY, -CAD, -USD (except USDJPY)

*Today’s Initial Trades*

Here’s the summary --

1. Buy USDCAD at 1.2876, Stop at 1.2848, Target 1.2904
2. Buy USDJPY at 105.12, Stop at 104.84, Target 105.40
3. Buy EURUSD at 1.2415, Stop at 1.2387, Target 1.2443

Close ALL open day trades by 10:20AM NY / 15:20 GMT

Swing

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