Today’s Trading Plan 08.07.2017 – USDJPY, AUDUSD, EURGBP

*Good morning/afternoon everyone!*

The U.S. dollar is trading higher against the Japanese Yen and commodity currencies this morning thanks to Friday’s stronger than expected employment report.  But the European currencies (euro, sterling and Swiss Franc) continue to hold onto their gains despite softer German industrial production , UK housing  and Swiss inflation data. This is a quiet week for the greenback and that means we should see further gains for the dollar. The focus will be on Fed Bullard and Kashkari’s comments and we know the former definitely does not support tighter policy. OPEC also meets today to discuss compliance with their output cut agreement and any headlines could affect CAD.

*The MAIN THEMES I see today are*

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

*Trading Biases*

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

*Today’s Potential Ideas*

1. Buy USDJPY at market now 110.83, Stop at 110.43, Target 111.03
2. Sell AUDUSD at market now 0.7907, Stop at 0.7947, Target 0.7877
3. Buy EURGBP at market now 0.9036, Stop at 0.8996, Target 0.9056

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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