Today’s Trading Plan 08.01.2017 – CADJPY, AUDJPY, EURCHF


*Good morning/afternoon everyone!*

For the second morning in a row, the U.S. dollar is trying to trade higher despite the upward movement in U.S. rates. Investors hope that today’s personal income, spending and ISM manufacturing numbers will help the dollar but a shallow rally is all they can wish for as none of these reports are game changers for the greenback. The worst performing currency this morning are the Australian and New Zealand dollars – we may finally be seeing capitulation even though the Reserve Bank did not say anything damaging and manufacturing PMI was better than expected. New Zealand has a dairy auction this morning. The best performer aside from the Yen is sterling which is supported by an uptick the manufacturing PMI index. Euro is down despite stronger German labor data and slightly firmer growth in the second quarter.

*The MAIN THEMES I see today are*


*Trading Biases*

neutral JPY and CHF

*Today’s Potential Ideas*

1. Sell AUDJPY at market now 88.19, Stop at 88.59, Target 87.89
2. Sell CADJPY at market now 88.49, Stop 88.89, Target 88.38
3. Buy EURCHF at market now 1.1407, Stop at 1.1367, Target 1.1427

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