Today’s Trading Plan 08.23.2016 – USDJPY, EURGBP, USDCAD

*Good morning/afternoon everyone!*

We are starting the morning with mixed performance for the U.S. dollar. The greenback is trading lower versus the euro, jpy and higher versus the commodity currencies and British pound. The Trump Administration’s new sanctions on Russia and North Korea, the President’s comment that he would be willing to shut down the government to force Congress to authorize funding for the border wall and the his continued threat to withdraw from NAFTA reminds investors of how unpredictable this President is and the consequences were seen in USDJPY today. Slightly better than expected German PMIs helped to drive the euro higher but the Eurozone data was weaker. NZD was the worst performer, hit hard by the government’s pre-election update.

*The MAIN THEMES I see today are*

-AUD
-NZD
+CAD

*Trading Biases*

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

*Today’s Ideas*

1. Buy USDJPY at market now 109.38, 108.98, Target 109.58
2. Sell USDCAD 1.2569, Stop at 1.2609, Target 1.2549
3. Buy EURGBP at 0.9195, Stop 40, target 20

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

Monday -39
Tues +40
Wed -18
Thurs -4
Friday +45

Total +22

Swing

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