BKSWING – New NZD and EUR/JPY Orders 07.23.14

***We are still short GBP/USD

Over the next 24 hours we have NZD, EUR and GBP are in play with the RBNZ rate decision, Eurozone PMIs and UK Retail Sales reports scheduled for release. Of these, the biggest market mover will undoubtedly be the RBNZ decision because the Reserve Bank is expected to raise interest rates for the fourth time in a row AND provide the market with fresh guidance. Many market participants are looking for the RBNZ to pause after tonight’s rate hike and if they do, it will be negative for NZD. However if they choose to forge forward and raise rates again in Sept, then it will be extremely positive for NZD. Weaker UK retail sales on the other hand will accelerate losses for GBP while softer PMIs could drive EUR/JPY below 136.

Given these views, Place the following NEW pending orders:

1. Sell GBP/NZD at 1.9538

Stop at 1.9598

Close 1/2 at 1.9508, move stop to breakeven

Close rest at 1.9475

2. Sell NZD/USD at 0.8585

Stop at 0.8645

Close 1/2 at 0.8555, move stop to breakeven

Close rest at 0.8425

3. Buy NZD/CHF at 0.7912

Stop at 0.7852

Close 1/2 at 0.7942, move stop to breakeven

Close rest at 0.8075

4. Sell NZD/CHF at 0.7720

Stop at 0.7780

Close 1/2 at 0.7690, move stop to breakeven

Close rest at 0.7550

5. Sell EUR/JPY at 135.83

Stop at 136.43

Close 1/2 at 135.53, move stop to breakeven

Close rest at 133.50

***Remember, if 2 orders trigger without one hitting T1 first, all other orders are canceled


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