Today’s Trading Plan 06.21.2017 – USD/CHF, EUR/GBP, CADCHF


*Good morning/afternoon everyone!*

Right out of the gate we’ve seen big moves in currencies. GBP/USD soared nearly 60 pips within a matter of minutes after Bank of England member Haldane said the risk of tightening too early has fallen. USD/JPY also popped in response, erasing earlier losses in GBP/JPY. We don’t think the rally will last and like fading the move as Carney pushes back against MPC hawks and Brexit provides ongoing uncertainty. In contrast all 3 commodity currencies are trading lower this morning but the consolidative price action in NZD tell us that traders are waiting for RBNZ. There’s not much to say about EURUSD which bounced off its May low near 1.1110. Light data flow means traders should take their cue from yields and news headlines.

*The MAIN THEMES I see today are*

-Sell GBP on rallies

*Trading Biases*
These will change after US data


*Today’s Potential Ideas*

1. Sell USDCHF at market at 0.9740, Stop at 0.9790, Target 0.9710
2. Place Order to Sell CADCHF at 0.7335, Stop at 0.7385, Target 0.7305
3. Place Order to Buy EURGBP at 0.8767, Stop at 0.8717, Target 0.8797

All pending orders canceled by 3:30PM NY / 19:30 GMT
All open day trades closed by 4PM NY / 20 GMT