Friday, July 28, 2017

Forex Insider Daily Update 29 July 2017

Major Bank Daily Position

USD/CHF - Credit Suisse - SHORT Position - From 0.9513 - Stopped out at 0.9570 (S/T) -57 pips
EUR/GBP - Credit Suisse - LONG Limit Order - Filled - Entry: 0.8905 - Target: 0.9045, Stop: 0.8828 (S/T)
EUR/USD - Credit Suisse - LONG Limit Order - Placed - Entry: 1.1550, Target: 1.2000, Stop: 1.1479 (S/T)
USD/CAD - Credit Suisse - LONG Position - From 1.2750 - Stopped out at 1.2460 (M/T) -290 pips
AUD/USD - Deutsche Bank - SHORT Position - From 0.7600 - Stopped out at 0.8000 (L/T) -400 pips
AUD/USD - Barclays - SHORT Position - From 0.7922 - Stopped out at 0.8010 (TOTW-S/T) -88 pips
NZD/USD - UOB - LONG Position - From 0.7415 - Hit Target at 0.7530 (S/T) +115 pips
NZD/USD - Credit Suisse - LONG Limit Order - Canceled - Entry: 0.7380, Target: 0.7535, Stop: 0.7330 (S/T)
NZD/USD - Credit Suisse - LONG Limit Order - Placed - Entry: 0.7490, Target: 0.7740, Stop: 0.7400 (S/T)
AUD/USD - Credit Suisse - LONG Position - From 0.7880 - Adjusted - Stop from 0.7775 to 0.7870, Target: unch. (M/T)
EUR/USD - Credit Suisse - LONG Limit Order - Canceled - Entry: 1.1550, Target: 1.2000, Stop: 1.1479 (S/T)
NZD/USD - Credit Suisse - LONG Limit Order - Filled - Entry: 0.7490 - Target: 0.7740, Stop: 0.7400 (S/T)
AUD/CHF - Morgan Stanley - LONG Position - Opened - Entry: 0.7688, Target: 0.8100, Stop: 0.7500 (M/T)
CHF/JPY - Morgan Stanley - SHORT Position - Opened - Entry: 115.25, Target: 105.00, Stop: 119.30 (L/T)
EUR/AUD - Morgan Stanley - LONG Position - From 1.4620 - Closed at market at 1.4727 (M/T) +107 pips
EUR/USD - Credit Suisse - LONG Stop Order - Filled - Entry: 1.1736 - Target: 1.2000, Stop: 1.1613 (M/T)
USD/CHF - Credit Suisse - LONG Position - Opened - Entry: 0.9655, Target: 0.9780, Stop: 0.9595 (S/T)
USD/CAD - Credit Suisse - LONG Position - Opened - Entry: 1.2465, Target: 1.2700, Stop: 1.2410 (S/T)

Morgan Stanley

MS expressed this fresh short CHF view via selling the 2 currency crosses –AUD/CHF and CHF/JPY
We expect AUD continue move higher short term as yield seeking behavior continues. We prefer our trade in low yielding CHF
Positive momentum in AUD should further support the pair as well. AUD has traded well recently even despite more dovish soundings from RBA and weak CPI data, which signals that broader macro drivers are propelling the currency rather than domestic policy expectations.
We choose to see CHF vs JPY as a long term strategic trade. A few years ago we told a story of Swiss going shopping abroad and it seems that story is in play today. EURCHF has now broken through 1.12 reaching the highest level since the floor removed. We think this will add momentum and introduce new investors to less actively traded currency. We are not saying that JPY is going strong instead we looked pairs that had moved too far and provided good risk reward.

NAB

We now need to see further bullish triggers archieved before confirming that a sustainable MT uptrend is in play.
A month end close above 1.0826 is the first of there triggers and will confirm previous high at 1.102

TD

Market reaction to the FOMC was overdone as market thinks this as an opportunity to push several technical key.
We are not convinced this is the break we need to chase. As such, we think market is irrationally keen to jump on any excuse to add EUR longs.
In EURUSD, key supports lie in 1.16 area an appreciable break below would signal a washout towards 1.13.
In AUDUSD, 0.78 are key supports below which a flush towards 0.76 would look more complete.

BofAML

SNB will take great satisfaction that the CHF sell off comes as a pace of Swiss sign deposit accumulation. We have been bearish CHF for much of this year as we had confidence that SNB put the currency’s upside. With regional political risk, the return of Greece to the international bond market and ECB exit gate, this provide the perfect backdrop for CHF underperformance.
We reiterate our view that CHF will remain a nominal anchor for funding trades.
In short term, EUR/CHF may consolidate recent gains given the scale of the move but against a backdrop of low market volatility and strong cross border capital flows, we believe investors selling of Swiss asset will continue.

BTMU

We can only put this down to the delayed response of several factors. This has finally trigerred a liquidation of long franc positions. The turn in expectations in relation to ECB and broad signs of global reflation as expectations will help weaken franc. BTMU argues that CHF selling is likely continue as the move this week could have a significant impact in shaping expectations.
Investors may quickly see franc as the least resistance in expressing a bullish EUR view.

SocGen

After confirmation, EUR/CHF suggest the move up is set to accelerate further. Soc Gen sees key support level at 1.11

PS: I was too busy this week to make an update but at least I have time on weekend 100%. If you guys would like to get a fast update daily then please support me so that I can invest some time on updating despite how busy I am currently.
Total donations : $12.15

Support me from here!

0 comments:

Post a Comment