Today’s Trading Plan 08.02.17 – AUDUSD, EURGBP, NZDJPY

*Good morning/afternoon everyone!*

The best performing currency this morning is the euro which continues to power higher on the back of stronger data and positive sentiment. The New Zealand dollar is the worst performer, falling sharply on the back of another decline in dairy prices yesterday and weaker employment data. As we predicted in our daily calendar calls, labor market conditions and the economy as a whole deteriorated in the second quarter. USD/JPY is also firmer ahead of ADP but we are nearing some key resistance levels in the currency. Sterling continues to buck the data trend as it pushes higher in spite of a softer construction PMI report, AUD is holding steady but vulnerable to a pullback like NZD.

*The MAIN THEMES I see today are*

+EUR
-AUD
-NZD
+CAD
-USD

*Trading Biases*

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

*Today’s Potential Ideas*

1. Buy EURGBP at market now 0.8945, Stop at 0.8905, Target 0.8975
2. Sell AUDUSD at 0.7965, Stop at 0.8015, Target 0.7935
3. Sell NZDJPY at market now 82.21, Stop at 82.61, Target 82.01

Cancel ALL pending orders by 3:30PM NY / 19:30 GMT / 5:30AM AEST
Close ALL open day trades by 4PM NY / 20 GMT / 6AM AEST

Swing

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