Today’s Trading Plan 05.02.2017 – AUD/NZD, AUD/CHF, GBP/NZD

Good morning/afternoon everyone!

The U.S. dollar and European currencies are strong this morning with USD/JPY taking out 112. There was no specific data to catalyze the move but U.S. rates continue to creep upwards and that is helping the currency. UK and German rates are also higher. In contrast, AUD, NZD, and CAD are weak. The RBA left interest rates unchanged last night and failed to acknowledge the improvements in the economy, leading to weakness in AUD. Traders should watch New Zealand’s dairy auction this morning. Canadian yields and oil prices are up but the loonie continues to fall as USD/CAD takes aim at 1.37.

*The MAIN THEMES I see today are*

EUR, GBP strength
AUD, NZD weakness

*Currencies we plan on day trading and the direction*
*These could change during the day, but for now

We will be trading around these themes --

-AUD, -NZD
+GBP

*Trading Biases*

+EUR, +GBP
-AUD, -NZD, -JPY
neutral USDJPY, CAD, CHF

*Starting Trades*

OPENED AT MARKET AUDNZD Sell
ENTRY -- 1.08640
STOP -- 1.09140
TAKE PROFIT -- 1.08340

OPENED AT MARKET AUDCHF Sell
ENTRY -- 0.74730
STOP -- 0.75230
TAKE PROFIT -- 0.74430

OPENED AT MARKET GBPNZD Buy
ENTRY -- 1.86837
STOP -- 1.86337
TAKE PROFIT -- 1.87137

Swing

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