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Today’s Trades 12.26.2017 – EURUSD, EURJPY, USDJPY
*Good morning/afternoon everyone!*
It should be a quiet day in the FX market with most European traders off for Boxing Day. Yet there should be some participation in North America with a handful of US traders back at their desks and watching this morning’s house price, Richmond Fed and Dallas Fed economic reports. We don’t expect any big moves but the uptick in U.S. rates is helping to lift the dollar. The greenback struggled the week before Christmas despite final approval of tax changes while euro traded heavily after the secessionists won majority in Catalonia. On quiet days like this it is not surprising to see the Swiss Franc as the biggest mover followed by the euro -- both are lower. A number of the major currencies are poised for a pullback against the greenback like AUD and NZD.
*The MAIN THEMES I see today are*
-EUR, -CHF, -GBP, -AUD, -NZD, -JPY
*Today’s Initial Trades*
1. Sell EURUSD at 1.1852, Stop at 1.1880, Target 1.1824
2. Buy USDJPY at market now 113.31, Stop at 113.03, Target 113.59
3. Sell EURJPY at market now 134.28, Stop at 134.56, Target 134.00
Close ALL open day trades by 10:20AM NY / 15:20 GMT