Today’s Trades 12.28.2017 – EURGBP, EURAUD, AUDNZD

*Good morning/afternoon everyone!*

Unlike the past few days, we’re actually seeing some volatility in the FX market this morning. The U.S. dollar is trading sharply lower across the board with decent losses (for a holiday) against the Yen and euro. There is absolutely no particular reason for this move outside of the greenback extending lower in a week marked by losses and high beta currencies powering higher on the back of equity market gains. However with U.S. yields up sharply this morning, we could see the greenback recover in the hours to follow. EUR/USD is now firmly above 1.19 but there’s major resistance near 1.1960. USD/JPY has support at 112.50 and GBP/USD has resistance right above 1.3350. USD/CAD should find support at the 100-day SMA near 1.2600 while AUD and NZD are poised for a pullback.

*The MAIN THEMES I see today are*

+EUR
-AUD

*Trading Biases*

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

*Today’s Initial Trades*

1. Buy EURGBP at market now .8882, Stop at .8854, Target .8910
2. Sell AUDNZD at market now 1.0988, Stop at 1.1016, Target 1.1960
3. Buy EURAUD at market now 1.5337, Stop at 1.5309, Target 1.5365

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

Swing

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