Today’s Trading Plan for 05.04.2017

*Good morning/afternoon everyone!*

Dollar bulls remain in control ahead of this afternoon’s FOMCm meeting. Despite all of the bad news, the market is still positioning for a hawkish Fed who they believe will prepare the market for June tightening. We still think that’s unlikely but there’s no doubt that the market is leaning another way. The Australian and New Zealand dollars are weak with the former falling on the back of lower commodity prices and the latter losing ground in sympathy. NZ data has been very good with the unemployment rate falling sharply in the first quarter. European currencies are a touch lower amidst mixed Eurozone data and healthier UK data.

*The MAIN THEMES I see today are*

EUR, GBP relative strength
AUD, NZD 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 --

-AUD
-NZD
+GBP
+CHF

*Trading Biases*
These will change after US data

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

:triangular_flag_on_post: *Starting Trades*

OPENED AT MARKET EURGBP Sell
ENTRY -- 0.84400
STOP -- 0.84900
TAKE PROFIT -- 0.84100

OPENED AT MARKET AUDNZD Sell
ENTRY -- 1.08070
STOP -- 1.08570
TAKE PROFIT -- 1.07770

OPENED AT MARKET NZDCHF Sell
ENTRY -- 0.68505
STOP -- 0.69005
TAKE PROFIT -- 0.68205

Swing

Leave a Comment

Your email address will not be published.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