Today’s Trading Plan 05.24.2017 – AUD/NZD, NZD/CHF, USD/CHF

*Good morning/afternoon everyone!*

We have a busy day ahead of us for the Canadian dollar and the U.S. dollar. The morning starts with the Bank of Canada rate decision and that will be followed by the FOMC minutes in the afternoon. The greenback is trading with a slight bid and the same is true for the Canadian dollar. GBP made a run for 1.30 again last night, backed off that level and is still struggling to figure out which way it wants to break (we think the break will be to the downside). The best performing currency this morning is the New Zealand dollar which is benefitting from last night’s strong trade balance and anti-AUD flows which is driven by Moody’s downgrade of Chinese debt. We think NZD will outperform and USD will stay bid ahead of the Fed minutes, which is why we are +USDCHF and +NZDCHF.

*The MAIN THEMES I see today are*

NZD strength
USD strength
CHF 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 --

+NZD
-AUD
+USD
-CHF

*Trading Biases*
These will change after US data

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

:triangular_flag_on_post: *Starting Trades*

OPENED AT MARKET NZDCHF Buy
ENTRY -- 0.68659
STOP -- 0.68159
TAKE PROFIT -- 0.68959

CLOSED EURUSD Sell
ENTRY -- 1.11824
EXIT -- 1.11887
RESULT -6.3 pips

OPENED AT MARKET AUDNZD Sell
ENTRY -- 1.06297
STOP -- 1.06797
TAKE PROFIT -- 1.05997

Swing

Leave a Comment

Your email address will not be published. Required fields are marked *