The Euro is lower on Thursday ahead of the ECB meeting although the charts are a little flat, without suggesting any real directional bias. Personally I will be short Euro heading into the meeting as I think the RCB are likely to cut by 10bp, and possibly by 20bp, with the additional chance of a reintroduction of some QE.
Elsewhere US$Jpy, Aud and Nzd all look relatively underpinned as long as risk sentiment remain positive.
The same applies to stocks which look as though they could head higher, while Gold still looks to be a sell on rallies.
*Trade of the day: September 12, 2019; 6:28 AM(AET)
*This is a personal opinion only, based on the look of the table below, and carries no guarantee of success.
All trades are good till 5.00pm NY time. All “in the money trades” should have the SL raised to break-even, or managed manually. All “out of the money trades” should keep original SL in place.
Sell EurUsd @ 1.1080. SL @ 1.1115, TP @ 1.1000
Buy EurUsd @ 1.0915. SL @ 1.0885, TP @ 1.1100
Sell AudUsd @ 0.6890. SL @ 0.6915, TP @ 0.6800
Buy AudUsd @ 0.6835. SL @ 0.6805, TP @ 0.6885
Buy NzdUsd @ 0.6390. SL @ 0.6355, TP @ 0.6450
Sell Gold @ 1510. SL @ 1525, TP @ 1480