BK – New USD/JPY and NZD/JPY Big Trade Orders, Cancel EUR/USD 01.05.2016

Swing

1. Cancel EUR/USD sell order – won’t trigger any time soon

2. TWO New Big Trade Orders

Place Order to Buy 1 Lot USD/JPY at 118.20

Place Order to Buy 1 More Lot of USD/JPY at 116.28

Stop for ALL at 114.35

The meltdown in Chinese stocks has meant significant losses for USD/JPY. However last night’s actions by the Chinese government to support its sinking stock market through a short sale ban for major investors and buying of equities by state controlled funds shows how responsive China will be to disruptions in their markets. While the Shanghai Composite Index opened down 3% overnight, it rebounded to close down only -0.26%. The markets are nervous but between China’s actions and the stabilization in their stock market, we believe that the slide in USD/JPY should come to an end soon. U.S. policymakers remain optimistic that the impact of China’s rout on U.S. markets is limited. The Fed may be less discouraged to raise rates again in this environment but no one expects another rate hike until March so they won’t be talking down rate hike expectations so early in the year. In other words, monetary policy divergence still favors USD/JPY in the long run and these could be bargain levels to buy USD/JPY.

Place Order to Sell 1 Lot NZD/JPY at 79.80

Place Order to Sell 1 More lot at 81.80

Stop for ALL 83.60

Investors are still nervous and with our USD/JPY trade idea we are looking for a deeper correction before buying. With NZD/JPY we want to ride the move lower. At the very first dairy auction of the year, prices turned negative which is not a good start for the New Zealand dollar. Unexpected changes to dairy prices typically have continuation in the Asian trading session so between the drop in dairy prices and risk aversion, NZD/JPY could test the 23.6% Fibonacci retracement of the November to August decline near 77.50. The currency pair also appears poised to close below the 100-day SMA which would represent a significant trend change for the pair.

3. Big Trade Recap:

AUD/USD

Place Order to Buy 1 Lot AUD/USD at 0.7284 TRIGGERED

Place Order to Buy 1 More Lot at 0.7084

Stop for ALL at 0.6920

EUR/GBP

Order to Sell 1 lot EUR/GBP at 0.7035 TRIGGERED

Place Order to Sell 1 More Lot at 0.7232 TRIGGERED

AVERAGE Entry 0.7133

Stop for ALL at 0.7430

BKSWING – 4 New Trades, Cancel EUR/JPY Order

Swing Uncategorized

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 – 4 New Orders, Cancel EUR/CAD and USD/JPY Orders

Swing

U.S. retail sales and U.K. employment numbers are scheduled for release tomorrow. To take advantage of the potential volatility caused by these reports, we are laying out two new orders for USD/JPY and GBP/NZD. On top of that, we have a new buy on dip order for EUR/CHF and an order to buy USD/CAD on a break to new highs. Also, cancel any existing orders that you may have to sell EUR/CAD and buy USD/JPY

1. Place order to Sell USD/JPY at 106.38
Stop at 106.98
Close 1/2 at 106.08, move stop to breakeven
Close rest at 105.15

2. Place order to Sell GBP/NZD at 2.0177
Stop at 2.0237
Close 1/2 at 2.0147, move stop to breakeven
Close rest at 2.0012

3. Place order to Buy EUR/CHF at 1.2055
Stop at 1.1995
Close 1/2 at 1.2085, move stop to breakeven
Close rest at 1.2200

4. Place order to Buy USD/CAD at 1.1337
Stop at 1.1277
Close 1/2 at 1.1367, move stop to breakeven
Close rest at 1.1475

***Remember, if 2 orders trigger without one hitting T1 first, all other orders are canceled

BKSWING 2 New GBP, Cancel NZD/CHF Order

Swing

Tomorrow’s Scottish referendum is hands down the most important event risk for the British pound this week. This is one of those events that can easily trigger a 150 to 300 pip move in a currency. Although we believe that Scotland will vote to remain part of the UK, if they don’t it will be a larger surprise for the currency. As such we are placing 2 orders in the GBP to take advantage of this opportunity. Cancel the NZD/CHF order but please remember we are STILL long EUR/CHF and maintain a EUR/USD Sell Order

1. Place order to Buy GBP/CHF at 1.5458
Stop at 1.5398
Close 1/2 at 1.5488, move stop to breakeven
Close rest at 1.5875

2. Place order to Sell GBP/USD at 1.6025
Stop at 1.6085
Close 1/2 at 1.5995, move stop to breakeven
Close rest at 1.5575

We still have the following pending order:

1. Place order to Sell EUR/USD at 1.2835
Stop at 1.2895
Close 1/2 at 1.2805, move stop to breakeven
Close rest at 1.2675

***Remember, if 2 orders trigger without one hitting T1 first, all other orders are canceled

BK SWING we are out of EUR/USD at 1.3205 +90 on trade.

Swing

BKSWING Sell EUR/USD at TRIGGERED 1.3265 Stop at 1.3325 Close 1/2 at 1.3235 move stop to breakeven Close rest at 1.3125. CANCEL ALL OTHER ORDERS

BKSWING – EUR/USD T1 hit for +30, Move stop to Breakeven

BKSWING – Move stop on EUR/USD to 1.3235 to lock +60

BKSWING – Move stop on EUR/USD to 1.3205 to lock +90


BK SWING we are out of EUR/USD at 1.3205 +90 on trade.

BK SWING Out of EUR/AUD +100 on trade

Swing

BKSWING Sell EUR/AUD at 1.4332 TRIGGERED Stop at 1.4392 Close 1/2 at 1.4302, move stop to breakeven Close rest at 1.4180 CANCEL All other Orders

BKSWING – EUR/AUD Move stop to 1.4302 to lock in +60

BKSWING – EUR/AUD Move stop to 1.4262 to lock in +100

BK SWING Out of EUR/AUD +100 on trade

BKSWING – Cancel CAD/JPY and AUD/NZD SELL order, Keep Other Orders

Swing

***We are still short NZD/USD AND long AUD/NZD

Cancel CAD/JPY buy order and AUD/NZD sell order. We will revisit trades after ECB decision & before Draghi’s. Keep the following orders:

We still have the following pending orders on:

1. Buy GBP/JPY at 172.27

Stop at 171.67

Close 1/2 at 172.57, move stop to breakeven

Close rest at 173.50

2. Sell GBP/USD at 1.6632

Stop at 1.6692

Close 1/2 at 1.6602, move stop to breakeven

Close rest at 1.6510

3. Sell AUD/USD at 0.9179

Stop at 0.9239

Close 1/2 at 0.9149, move stop to breakeven

Close rest at 0.9055