Today’s Trades 11.06.2017 – EURUSD, USDCAD, EURAUD

*Good morning/afternoon everyone!*

A lively Asian trading session has translated into a quiet start for North America. U.S. yields are slightly lower, causing the USD to give up its earlier gains vs the Yen. There very little consistency in the performance of the greenback which is up versus EUR, NZD, and CHF but down vs. GBP, CAD and AUD. German yields are down the most this morning, explaining the euro’s broad based underperformance. We’re actually surprised by the resilience of NZD considering the sharp drop in New Zealand yields overnight. With no major U.S. economic reports scheduled for release today, it may not be an active session. President Trump is in Asia so news flow could be the dollar’s main driver. Compared to last week, this is a far less busy week for the G-3 currencies but Fed speak and political headlines could still have a significant impact on currencies.

*The MAIN THEMES I see today are*

-EUR
+AUD
+CAD

*Trading Biases*

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

*Today’s Ideas*

1. Sell EURUSD at market now 1.1595, Stop at 1.1623, Target 1.1567
2. Sell USDCAD at market now 1.2750, Stop 1.2778, Target 1.2722
3. Sell EURAUD at market now 1.5127, Stop 1.5155, Target 1.5099

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

Leave a Comment

Your email address will not be published. Required fields are marked *