Today’s Trades 12.18.2017 – EURGBP, AUDCHF, CHFJPY

*Good morning/afternoon everyone!*

Although the U.S. dollar is trading lower against most of the major currencies this morning, stock futures and 10 year Treasury yields are soaring as the tax bill is set to pass this week. Lawmakers are also working on a bill to avoid a government shutdown this Friday -- all of these developments should be good news for the greenback. Unfortunately dollar bulls are not impressed as they are still waiting for the final tax bill vote for confirmation but at this stage, that’s just a formality. So it remains to be seen if they can be swayed in this otherwise quiet data. day. The big focus today will be GBP -- UK Prime Minister May will deliver a Brexit speech at 10:30am NY time / 15:30 GMT. She’s will confirm that phase 2 of Brexit negotiations will proceed as planned. EUR is eyeing 1.18 but failed to break that level in earlier trade. The commodity currencies are strong with the exception of CAD which is consolidative. Yet both AUD and NZD are trading near key resistance levels and could start to ease off 1 month highs.

*The MAIN THEMES I see today are*

+EUR
+GBP
+CHF
-AUD
-CAD

*Trading Biases*

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

*Today’s Initial Trades*

1. Sell AUDCHF at .7572, Stop at .7600, Target .7544
2. Sell CHFJPY at market now 113.88, Stop at 114.16, Target 113.60
3. Sell EURGBP at market now .8823, Stop at .8851, Target .8895

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

Swing

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