You have no items in your cart.
Today’s Trading Plan – AUD/USD, AUD/CAD and EUR/USD
*Good morning/afternoon everyone!*
There are a few big stories in the FX market this morning -- the first is the DUP/Tory deal in the UK. Prime Minister May reached a compromise with the DUP by providing GBP 1billion in funding for Northern Ireland, in return, the DUP agreed to support a Conservative Minority government. Sterling jumped about 40 pips in response. Gold prices also crashed, catching traders by surprise with this move likely to weigh on AUD this morning. The U.S. dollar is firmer against the Yen, euro and Swiss Franc with yields ticking upwards. This morning’s stronger than expected IFO report failed to have any positive impact on the euro. There’s not much in the way of US data morning -- we only have durable goods so yields will be the primary driver of dollar flows.
*The MAIN THEMES I see today are*
neutral CAD before data but ultimately bearish
These will change after US data
+USD, +CAD, +GBP, +JPY
-CHF, -AUD, -NZD
*Today’s Potential Ideas*
1. Sell AUD/USD at market now 0.7570, Stop at 0.7620, Target 0.7540
2. Sell AUDCAD at market now 1.0017, stop at 1.0067,Target 0.9987
3. Place Order Sell EURUSD at 1.1187, Stop at 1.1237, Target 1.1157
All pending orders canceled by 3:30PM NY / 19:30 GMT
All open day trades closed by 4PM NY / 20 GMT