Today’s Trading Plan 09.22. 17 – USDCAD, EURUSD


*Good morning/afternoon everyone!*

There are no U.S. economic reports scheduled for release today but the dollar continues to give back its gains as yields take another tumble this morning. Stronger than expected Eurozone PMIs and benign comments from ECB President Draghi helped EUR/USD hit 1.20 this morning. Although the pair has since lost some of its momentum, it could make another run for this level. Prime Minister May’s Brexit speech is today and sterling is steady ahead of the event. The Canadian dollar is also firm ahead of this morning’s Canadian retail sales and CPI reports. We’ll be live trading these 2 pieces of data at 8:15 NY / 12:15 (please join us). USD/JPY is trying to claw back but it is not clear whether it will be able to so keep an eye on U.S. yields. If the 10 year rate rebounds and is down less than 1.5bp, we could see a dollar bulls regain control.

*The MAIN THEMES I see today are*


*Trading Biases*

mildly -USD
mildly +AUD, +NZD
neutral JPY, CHF

*Today’s Ideas*

1. Buy EURUSD at 1.1969, Stop at 1.1939, Target 1.1989
2. Sell USDCAD at 1.2272, Stop at 1.2300, Target 1.2252

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