Today’s Trading Plan for 07.27.2017 – USDCAD, USDJPY, EURGBP

*Good morning/afternoon everyone!*

After falling to fresh multi-year lows overnight, profit taking on short dollar positions helped the greenback recover all of its losses versus the euro, Japanese Yen and other major currencies. Some traders wonder if we’ve seen the final push before a top in pairs like EUR/USD, AUD/USD and NZD/USD but we doubt that’s the case as the fundamentals did not change overnight. The worst performer is EUR/USD, which actually turned negative whereas other major currencies are not unchanged after strong overnight gains versus the greenback. U.S. yields have stemmed their slide but also seem to be retreating from its highs. The news flow is light today, so there could be more two way action in currencies.

*The MAIN THEMES I see today are*

-USD
+EUR
+AUD
+NZD
-CHF
-CAD

*Trading Biases*

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

*Today’s Potential Ideas*

1. Buy EURGBP at market now 0.8909, Stop at 0.8860, Target 0.8929
2. Sell USDJPY at market now 111.30, Stop at 111.80, Target 111.00
3. Buy USDCAD at market now 1.2449, Stop at 1.2409, Target 1.2479

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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