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*Good morning/afternoon everyone!*
We are starting the week with a mixed U.S. dollar that is trading higher against EUR, AUD, CAD and CHF but lower versus the GBP, JPY and NZD. Although we have the Empire State manufacturing survey scheduled for release today, it is a week devoid of any major market moving U.S. economic reports. Instead, Fed speak and geopolitical risks will be key and that’s why USD/JPY is struggling to rise because the uneven U.S. recovery, NK risks and the selection of a Fed chair hang over the currency. The worst performing currency this morning is the Canadian dollar, which has bounced off the 20/50 SMA cross to trade back above 1.25. The euro is under pressure due to Catalonia uncertainty but GBP is powering higher anticipation of positive economic reports this week. We don’t expect an exceptionally volatile NY trading session but we may see continuation on the latest moves.
*The MAIN THEMES I see today are*
-EUR, -AUD, -NZD
+GBP, +CHF, +CAD, +JPY
1. Sell AUDCHF at .7675, Stop at .7705. Target .7655
2. Sell EURGBP at .8872, Stop at .8902, Target .8852
3. Sell EURUSD at 1.1802, Stop at 1.1832. Target 1.1782
4. Sell CADCHF at .7782, Stop at .7812, Target .7762
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