Today’s Trades 12.29.2017 – EURGBP, AUDCHF, USDCAD

*Good morning/afternoon everyone!*

As it is the end of the month, end of the year and the Friday before a long weekend, there’s a good chance we’ll see unexplained price action in currencies. With that in mind, the dollar remains under pressure, falling to fresh multi-month lows against the commodity prices and extending its weakness versus sterling, euro and the Japanese Yen. There are no U.S. economic reports on the calendar today but 10 year Treasury yields are starting the day lower. While higher yields have not helped the greenback, lower yields are increasing the pressure. This has been a terrible year for the greenback and the downtrend remained intact this week. Momentum dictates that we should see further dollar weakness today but as mentioned earlier, the end of the week/month/quarter/year could exacerbate market volatility so for that reason we are keeping our day trades tight and will be looking to exit trades early.

*The MAIN THEMES I see today are*

+EUR
+CAD
+AUD
+NZD

*Trading Biases*

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

*Today’s Initial Trades*

1. Buy AUDCHF at market now .7626, Stop at .7598 Target .7654
2. Sell USDCAD at 1.2534, Stop at 1.2562, Target 1.2506
3. Buy EURGBP at .8872, Stop at .8844, Target .8900

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

Swing

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