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Today’s Trading Plan for 07.19.2017 – AUDCHF and EURGBP
*Good morning/afternoon everyone!*
It is a relatively quiet morning in the FX market with only AUD and NZD on the move. Both currencies hit new highs as the dollar remains under pressure. Although U.S. rates are up slightly this morning, USD/JPY. With the Bank of Japan and European Central Bank holding monetary policy meetings in the next 24 hours, it could be a consolidate day of FX trade with the EURO giving up some of its exaggerated gains. Yen moves should be limited as no one expects a surprise from the BoJ. Today’s reports on U.S. housing starts and building permits could help the dollar (as recoveries are anticipated) but it won’t reverse the course of the greenback. USD/CAD will be at the beck and whim of oil prices today with inventories on tap.
*The MAIN THEMES I see today are*
+AUD, +CAD, +CHF
neutral NZD, GBP, JPY
*Today’s Potential Ideas*
1. Buy AUDCHF at market now 0.7572, Stop at 0.7532, Target 0.75922
2. Sell EURGBP at market now 0.8838, Stop at 0.8878, Target 0.8818
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