Today’s Trading Plan 07.20.2017 – NZDCAD

*Good morning/afternoon everyone!*

Thursday is already off to a wild start with the USD rebounding and GBP, AUD giving up post data gains. Reversal is the theme of the day but the fundamentals haven’t changed. The Australian labor market is doing very well, US growth is slowing and the outlook for the UK is mixed. The ECB rate decision is the main focus this morning and we’re not surprised that the currency has been hit by profit taking. As we’ll be live trading ECB starting 8:15 NY Time / 12:15 GMT / 10:15 AEST, we’re only taking one trade this morning in NZD/CAD. New Zealand fundamentals remain weak and Canada’s bright -- so NZD/CAD could see further losses

*The MAIN THEMES I see today are*


*Trading Biases*

neutral EUR, CHF, AUD

*Today’s Potential Ideas*

1. Sell NZDCAD at 0.9267, Stop at 0.9317, Target 0.9237

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


Leave a Comment

Your email address will not be published.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