Today’s Trading Plan 05.24.2017 – AUD/NZD, NZD/CHF, USD/CHF

Swing

*Good morning/afternoon everyone!*

We have a busy day ahead of us for the Canadian dollar and the U.S. dollar. The morning starts with the Bank of Canada rate decision and that will be followed by the FOMC minutes in the afternoon. The greenback is trading with a slight bid and the same is true for the Canadian dollar. GBP made a run for 1.30 again last night, backed off that level and is still struggling to figure out which way it wants to break (we think the break will be to the downside). The best performing currency this morning is the New Zealand dollar which is benefitting from last night’s strong trade balance and anti-AUD flows which is driven by Moody’s downgrade of Chinese debt. We think NZD will outperform and USD will stay bid ahead of the Fed minutes, which is why we are +USDCHF and +NZDCHF.

*The MAIN THEMES I see today are*

NZD strength
USD strength
CHF 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 --

+NZD
-AUD
+USD
-CHF

*Trading Biases*
These will change after US data

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

:triangular_flag_on_post: *Starting Trades*

OPENED AT MARKET NZDCHF Buy
ENTRY -- 0.68659
STOP -- 0.68159
TAKE PROFIT -- 0.68959

CLOSED EURUSD Sell
ENTRY -- 1.11824
EXIT -- 1.11887
RESULT -6.3 pips

OPENED AT MARKET AUDNZD Sell
ENTRY -- 1.06297
STOP -- 1.06797
TAKE PROFIT -- 1.05997

Today’s Trading Plan – EUR/USD and AUD/USD

Swing

*Good morning/afternoon everyone!*

The U.S. dollar is trading slightly higher against the Japanese Yen this morning but its gains are limited to only a few currencies (JPY and GBP). It is not clear whether USD/JPY’s gains are durable but U.S. yields are up and we could hear some hawkishness from the handful of Fed Presidents scheduled to speak today. Euro and NZD are leading the gains -- while there is not specific catalyst for the New Zealand dollar, the euro is benefitting from Merkel’s view that the currency is too “weak.” GBP is underperforming because of new Brexit concerns but we still think 1.30 is support rather than resistance for GBP/USD. Comm dollars in general look bid and should be poised for more gains.

*The MAIN THEMES I see today are*

EUR strength
AUD, NZD, CAD strength

*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 --

+EUR
+AUD, +NZD
possible +CAD and +GBP

*Trading Biases*
These will change after US data

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

:triangular_flag_on_post: *Starting Trades*

OPENED AT MARKET EURUSD Buy
ENTRY -- 1.12369
STOP -- 1.11869
TAKE PROFIT -- 1.12669

NEW ORDER PENDING
AUDUSD Buy-limit 0.74570
STOP 0.74070
TAKE PROFIT 0.74870

Today’s Trading Plan – EUR/USD and CAD/JPY

Swing

*Good morning/afternoon everyone!*

European currencies are trading sharply higher this morning as EUR and GBP recover from yesterday’s flash crash. Broad based U.S. dollar strength is also helping the move as risk appetite improves. The main focus today will be on the Canadian dollar as retail sales and CPI are due for release but we also have Fed speak (Bullard at 9:15am NY and Williams at 1:40pm NY). Given the sharp rise in the IVEY PMI index and the decline in retail sales the previous month our bias is to the upside for both CAD reports. If the data is good, USD/CAD should tumble all the way down to 1.35. U.S. rates are up slightly this morning which explains why USD/JPY has not extended its losses. AUD and NZD are poised to continuing underperforming its peers.

*The MAIN THEMES I see today are*

EUR,GBP strength
AUD, NZD underperformance
Possible CAD strength

*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 --

+EUR, +GBP
-AUD, -NZD
possible +CAD

*Trading Biases*
These will change after US data

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

:triangular_flag_on_post: *Starting Trades*

Buy CADJPY at market now 82.10
Stop at 81.50
Target 82.40

Buy EURUSD at market 1.1169
Stop at 1.1119
Target 1.1199

Today’s Trading Plan – EUR/GBP, NZD/USD, AUD/NZD

Swing

*Good morning/afternoon everyone!*

Sterling is on a tear this morning having broken 1.3000 on the back of HOT retail sales numbers. There’s no major resistance until 1.3050 and we think the pair will test/break that level. The U.S. dollar remains weak, the selling appears to have stalled but the US session isn’t in full swing so 110 could still be tested. The commodity currencies are weaker across the board and should continue to underperform their European counterparts. The Philly Fed index is due for release today but the greater focus could Fed President Mester’s comments on the economy and monetary policy

*The MAIN THEMES I see today are*

EUR,GBP strength
USD weakness
comm dollar finding support

*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 --

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

*Trading Biases*
These will change after US data

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

:triangular_flag_on_post: *Starting Trades*

OPENED AT MARKET NZDUSD Sell
ENTRY -- 0.69257
STOP -- 0.69757
TAKE PROFIT -- 0.68957

OPENED AT MARKET EURGBP Sell
ENTRY -- 0.85370
STOP -- 0.85870
TAKE PROFIT -- 0.85070

OPENED AT MARKET AUDNZD Buy
ENTRY -- 1.07378
STOP -- 1.06879
TAKE PROFIT -- 1.07679

Today’s Trading Plan – EURUSD, USDCAD, EURGBP

Swing

*Good morning/afternoon everyone!*

The U.S. dollar continues to get shellacked as the greenback extends its losses versus the Yen, euro and British pound. The UK has stronger labor data to thank for the move but the other major currencies are simply benefitting from anti-dollar flows. Although some market participants believe that the drama in Washington is finally weighing on the dollar (which may be true), the consistent data disappointments are also a problem. The commodity currencies are the only ones that are struggling while the greenback tanks but they too are finding support and likely to see upside momentum. We only have one word of caution which is that the latest moves are supported by the sharp drop in US rates but rates are already down a lot this morning, so there could be a “recovery” during the US session that takes some of the pressure off the dollar but the downtrend remains intact.

*The MAIN THEMES I see today are*

EUR,GBP strength
USD weakness
comm dollar finding support

*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 --

+EUR
+GBP
-USD
+CAD

*Trading Biases*
These will change after US data

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

:triangular_flag_on_post: *Starting Trades*

OPENED AT MARKET EURGBP Sell
ENTRY -- 0.85643
STOP -- 0.86143
TAKE PROFIT -- 0.85343

OPENED AT MARKET EURUSD Buy
ENTRY -- 1.11069
STOP -- 1.10569
TAKE PROFIT -- 1.11369

OPENED AT MARKET USDCAD Sell
ENTRY -- 1.36138
STOP -- 1.36638
TAKE PROFIT -- 1.35838

Pending Order

USDJPY Sell-limit 112.580
STOP 113.080
TAKE PROFIT 112.280

Today’s Trading Plan for 05.15.2017 – EUR/GBP, USD/CHF, USD/JPY

Swing

*Good morning/afternoon everyone!*

The U.S. dollar is trading lower against all of the major currencies this morning as investors continued to sell the greenback following last week’s disappointing retail sales and inflation reports. Expectations for Fed tightening got ahead of themselves and the lack of support from 2 very important pieces of U.S.. data has turned 114.35 into a near term for USD/JPY. A return to 113 appears likely unless U.S. rates suddenly gain traction. The euro is eyeing 1.10 again, USD/CAD has peaked for the time being, GBP is up as well but struggling to extend its gains after a dovish BoE. AUD and NZD were driven higher as investors shrugged off mixed local and Chinese data.

*The MAIN THEMES I see today are*

USD weakness
EUR strength
CAD strength
CHF strength

*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 --

+EUR
-USD
+CHF
+CAD

*Trading Biases*
These will change after US data

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

:triangular_flag_on_post: *Starting Trades*

OPENED AT MARKET USDCHF Sell
ENTRY -- 0.99797
STOP -- 1.00303
TAKE PROFIT -- 0.99503

OPENED AT MARKET EURGBP Buy
ENTRY -- 0.84822
STOP -- 0.84322
TAKE PROFIT -- 0.85122

OPENED AT MARKET USDJPY Sell
ENTRY -- 113.435
STOP -- 113.935
TAKE PROFIT -- 113.135

Today’s Trading Plan 05.12.2017 – EUR/GBP

Swing

*Good morning/afternoon everyone!*

We’ve got a number of key U.S. economic reports scheduled for release this morning and currencies are trading cautiously ahead of the retail sales, consumer prices and University of Michigan consumer sentiment reports. The weakest currency is GBP which extended its losses after the BoE disappointed but the Canadian dollar is also lower. The strongest currency is the euro which is holding 1.0850 but that could break if U.S. data is strong. AUD and NZD look poised for a pullback while USD/JPY awaits U.S. data.

*The MAIN THEMES I see today are*

GBP weakness
NZD, CAD weakness

Potential USD strength but be careful pre-US data

*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 --

-NZD
-GBP
+CHF

*Trading Biases*
These will change after US data

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

:triangular_flag_on_post: *Starting Trades*

OPENED AT MARKET EURGBP Buy
ENTRY -- 0.84588
STOP -- 0.84088
TAKE PROFIT -- 0.84888

Trading Plan for 05.10.2017

Swing

*Good morning/afternoon everyone!*

EUR, USDJPY are on the back foot this morning while AUD, NZD and GBP trade higher. The strength of NZD and GBP stems primarily from the market’s expectations for the RBNZ and BoE, who have monetary policy announcements in the next 24 hours. The rest of the majors are trading with a heavy bias after North Korea announced plans for another nuclear test. We know that President Trump has his eye on NK and could be provoked into a response or at minimum, some harsh words. Yields are down across the board, reflecting the nervousness of investors. We finally have some US data today but import and export prices are hardly market moving.

*The MAIN THEMES I see today are*

NZD, AUD, GBP strength
USDJPY weakness, JPY strength

*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 --

+NZD
+GBP
-USDJPY

*Trading Biases*
These will change after US data

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

:triangular_flag_on_post: *Starting Trades*

OPENED AT MARKET AUDNZD Sell
ENTRY -- 1.06371
STOP -- 1.06871
TAKE PROFIT -- 1.06071

OPENED AT MARKET EURJPY Sell
ENTRY -- 123.868
STOP -- 124.368
TAKE PROFIT -- 123.568

NZDCHF Buy-limit 0.69650
STOP 0.69150
TAKE PROFIT 0.69850

NEW ORDER PENDING
EURGBP Sell-limit 0.84000
STOP 0.84500
TAKE PROFIT 0.83700

Today’s Trading Plan 05.05.2017 – NZDUSD

Swing

*Good morning/afternoon everyone!*

Its been a quiet overnight session with USD/JPY and EUR/USD failing to extend its gains. We are seeing the usual non-farm payrolls lull. The 8:30 report will cause a rush of volatility that will be followed by comments from Fischer and Yellen near the European close. The commodity currencies remain very weak with CAD and AUD leading the losses. Even if weaker NFP drives EUR/USD higher, we could see profit taking after the big event ahead of this weekend’s French election.

We’re live trading non-farm payrolls this morning starting at 8:15am NY Time so join us!

*The MAIN THEMES I see today are*

USD strength
Commodity currency weakness
EUR profit taking

*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
-CAD
-NZD
+USD

*these could change after NFP

*Trading Biases*
These will change after US data

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

:triangular_flag_on_post: *Starting Trades*

OPENED AT MARKET NZDUSD Sell
ENTRY -- 0.68887
STOP -- 0.69387
TAKE PROFIT -- 0.68587