Today’s Trades 07.23.2018 No Day Trades, But Ideas for Swing Trades

Swing

Good morning/afternoon everyone!

We have no #2 trades this morning because Mondays are usually reversal and not flow days. Yet I still wanted to share my thoughts –

After selling off aggressively at the start of Asia, the U.S. dollar is off its lows heading into North American trade. Investors were caught wrong footed at the end of last week and when the markets opened on Sunday, dollar selling continued. With that in mind, we are watching yields closely as the early decline in 10 year rates suggests that there may not be much more to USD/JPY’s recovery. This is a big week for euro and while we lean towards EUR weakness, today’s rise in German yields could limit the slide in EUR/USD. None of the major currencies are seeing much action this morning but the Yen crosses are down across the board. We like buying Canadian dollars after Friday’s strong Canadian economic reports and the rise in oil.

Swing trades that I am eyeing include -USDCAD, -EURCAD, -AUDCAD and -EURGBP

*The MAIN THEMES I see today are*

-USD
-AUD
+CAD
+GBP

*Trading Biases*

-USD, -AUD, -EUR
+CAD, +GBP, +JPY, +CHF
neutral NZD

Today’s Ideas

No Trades

Close ALL open day trades by 10:20AM NY / 15:20 GMT

BK SWING NEW Orders

Swing

With EUR weakness and possible risk aversion flows from the Ukraine we are putting on the following trade orders for the start of this week. As always if two orders trigger then cancel the rest.

1. Sell EUR/JPY at 139.82
Stop 140.82
Cover 1/2 position at 139.42 move stop to breakeven
Close rest at 138.82

2. Buy AUD/CAD 1.0335
Stop 1.0275
Sell 1/2 at 1.0365 move stop to breakeven
Sell rest 1.0450

3.Sell AUD/JPY 94.72
Stop 95.32
Cover 1/2 at 94.42 move stop to breakeven
Cover rest 93.00

4.Sell EUR/AUD 1.4645
Stop 1.4745
Cover 1/2 at 1.4605 move stop to breakeven
Cover rest 1.4545