Today’s Trading Plan 07.20.2017 – NZDCAD

by Kathy Lien Swing

*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*

-USD
-GBP
-NZD

*Trading Biases*

-USD, -GBP, -NZD, -JPY
+CAD
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

Today’s Trading Plan for 07.19.2017 – AUDCHF and EURGBP

by Kathy Lien Swing

*Good morning/afternoon everyone!*

It is a relatively quiet morning in the FX market with only AUD and NZD on the move. Both currencies hit new highs as the dollar remains under pressure. Although U.S. rates are up slightly this morning, USD/JPY. With the Bank of Japan and European Central Bank holding monetary policy meetings in the next 24 hours, it could be a consolidate day of FX trade with the EURO giving up some of its exaggerated gains. Yen moves should be limited as no one expects a surprise from the BoJ. Today’s reports on U.S. housing starts and building permits could help the dollar (as recoveries are anticipated) but it won’t reverse the course of the greenback. USD/CAD will be at the beck and whim of oil prices today with inventories on tap.

*The MAIN THEMES I see today are*

-EUR
-USD
+AUD
+CAD
+CHF

*Trading Biases*

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

*Today’s Potential Ideas*

1. Buy AUDCHF at market now 0.7572, Stop at 0.7532, Target 0.75922
2. Sell EURGBP at market now 0.8838, Stop at 0.8878, Target 0.8818

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