BKSWING Place order to Buy EUR/CHF at 1.2055 TRIGGERED Stop at 1.1995 Close 1/2 at 1.2085, move stop to breakeven Close rest at 1.2200
We are finally hit on our t1 target of 1.2085 on EURCHF +30 but out at rest on break/even
BKSWING Sell AUDUSD at 0.8187 TRIGGERED
Stop at 0.8247
Close 1/2 at 0.8157
Close rest at 0.8015
BKSWING T1 HIt on AUD/USD for +30, Move Stop to Breakeven
BKSWING out of short AUDUSD +30 on the trade
BKSWING Sell NZD/JPY at 90.88 Stop at 91.48 Close 1/2 at 90.58 Close rest at 89.25 TRIGGERED – Cancel EUR/AUD, NZD/USD AUDUSD orders for now
BKSWING – Stopped out of NZD/JPY at -120, Restore EUR/AUD and AUD/USD Orders
There has been a significant amount of volatility in the FX market since the beginning of the week but the next 24 hours will be extremely important for currencies and the viability of current reversals. We have the RBNZ meeting later this afternoon, Australian employment on the calendar along with the next ECB TLTRO operation and US retail sales. IF the RBNZ lowers its inflation target as we expect, there could be significant selling of NZD against the dollar and JPY. At the same time, although the odds favor a bounce in AU employment, the bigger move will be if the data surprises to the downside,reinforcing the market’s speculation for RBA easing. To take advantage of these opportunities, we are laying out the following 4 orders.
***CANCEL EUR/JPY Buy order. We are still long EUR/CHF.
1. Sell NZD/JPY at 90.88
Stop at 91.48
Close 1/2 at 90.58
Close rest at 89.25
2. Sell NZD/USD at 0.7578
Stop at 0.7638
Close 1/2 at 0.7548
Close rest at 0.7325
3. Sell AUDUSD at 0.8187
Stop at 0.8247
Close 1/2 at 0.8157
Close rest at 0.8015
4. Buy EUR/AUD at 1.5037
Stop at 1.4977
Close 1/2 at 1.5067
Close rest at 1.5425
***Remember, if 2 orders trigger without one hitting T1 first, all other orders are canceled
BKSWING Stopped on GBPUSD -120 on trade
BKSWING Place order to 1. Sell GBP/USD at 1.5565 TRIGGERED Stop at 1.5625 Close 1/2 at 1.5535 Close rest at 1.5425
Place the following 2 orders. We are still long EUR/CHF.
1. Sell GBP/USD at 1.5565
Stop at 1.5625
Close 1/2 at 1.5535
Close rest at 1.5425
2. Buy EUR/JPY at 150.32
Stop at 149.72
Close 1/2 at 150.62
Close rest at 152.75
***Remember, if 2 orders trigger without one hitting T1 first, all other orders are canceled
BKSWING – Place Sell AUD/USD Order at 0.8370 TRIGGERED Stop at 0.8430 Close 1/2 at 0.8340 Close rest at 0.8125 Cancel all pending orders
BKSWING – T1 Hit, Move AUD/USD Stop to 0.8340 to lock in 60
BKSWING – Out of AUD/USD at +60
BKWING SHORT EURUSD Target 1 reached + 30 move stop to b/e 1.2334
BKSWING Sell EUR/USD at 1.2334 TRIGGERED Stop at 1.2394 Close 1/2 at 1.2304 Close rest at 1.2175 cancel all other pending orders
BKSWING – Out of EUR/USD +30 on Trade
The Australian dollar traded sharply lower today on the heels of the RBA rate decision. Governor Stevens stated that a lower dollar was “likely to be needed” – a turn of phrase that some analysts in the currency market understood as a signal that the central bank may become much more active in guiding the currency lower. The RBA is clearly concerned about the sharp decline in commodity prices, especially iron ore which represents one out five Australian export dollars to the country. Tonight’s more dovish language may have been a warning to the market that the central bank would be willing to consider another rate cut and as traders adjusts their own expectations, we could see further weakness in AUD. To position for this possibility, we are laying out a fresh AUD/USD sell order.
Remember we are still long EUR/CHF
1. Sell AUD/USD at 0.8370
Stop at 0.8430
Close 1/2 at 0.8340
Close rest at 0.8125
We still have the following pending orders on:
2. Buy NZD/JPY at 94.15
Stop at 93.55
Close 1/2 at 94.45
Close rest at 95.35
3. Sell AUD/JPY at 99.72
Stop at 100.32
Close 1/2 at 99.42
Close rest at 98.50
4. Sell EUR/USD at 1.2334
Stop at 1.2394
Close 1/2 at 1.2304
Close rest at 1.2175
5. Sell GBP/USD at 1.5565
Stop at 1.5625
Close 1/2 at 1.5535
Close rest at 1.5425
***Remember, if 2 orders trigger without one hitting T1 first, all other orders are canceled
It is a big week in the Forex market with 4 monetary policy announcements from the RBA, BoC, ECB and BoE along with employment reports from the US and Canada. In addition to these developments, we also have a number of U.S. policymakers speaking so there’s a strong possibility of big moves. We like to trade these opportunities through the Yen crosses – AUD/JPY, NZD/JPY and GBP/JPY specifically:
Remember we are still long EUR/CHF
1. Buy GBP/JPY at 186.58
Stop at 185.98
Close 1/2 at 186.88
Close rest at 189.75
2. Buy NZD/JPY at 94.15
Stop at 93.55
Close 1/2 at 94.45
Close rest at 95.35
3. Sell AUD/JPY at 99.72
Stop at 100.32
Close 1/2 at 99.42
Close rest at 98.50
We still have the following pending orders on:
1.Sell EUR/USD at 1.2334
Stop at 1.2394
Close 1/2 at 1.2304
Close rest at 1.2175
2.Sell GBP/USD at 1.5565
Stop at 1.5625
Close 1/2 at 1.5535
Close rest at 1.5425
***Remember, if 2 orders trigger without one hitting T1 first, all other orders are canceled
Now that the EUR/CAD trade has closed, we are renewing our EUR/USD and GBP/USD sell orders
***We are still long EUR/CHF so if one of these orders trigger, please cancel the other
1.Sell EUR/USD at 1.2334
Stop at 1.2394
Close 1/2 at 1.2304
Close rest at 1.2175
2.Sell GBP/USD at 1.5565
Stop at 1.5625
Close 1/2 at 1.5535
Close rest at 1.5425
After hitting a 1 year low during the early European trading session, sterling rebounded nicely today on the back of less dovish BoE minutes. The Bank of England felt that the market’s concerns about the economic slowdown and exchange rate are overblown and with 2 members voting for a rate hike, we could see a further squeeze in the British pound. We like buying GBP against the NZD because dairy prices continued to fall. On top that, NZD will sell off if Chinese manufacturing activity slows. 2.0 is an important resistance level for GBP/NZD which if broken could pave the way for a smooth ride up to 2.0. To take advantage of this view, we are laying out the following pending order to buy GBP/NZD:
1. Buy GBP/NZD at 2.0058
Stop at 1.9998
Close 1/2 at 2.0088
Close rest at 2.0187
We still have the following pending orders on:
1.Sell EUR/USD at 1.2334
Stop at 1.2394
Close 1/2 at 1.2304
Close rest at 1.2175
2.Sell GBP/USD at 1.5565
Stop at 1.5625
Close 1/2 at 1.5535
Close rest at 1.5425
3.Sell EUR/CAD at 1.3987
Stop at 1.4047
Close 1/2 at 1.3957
Close rest at 1.3625
***Remember, if 2 orders trigger without one hitting T1 first, all other orders are canceled
