Short EURNOK

We have entered short EURNOK trade at 9.6225 with stop loss at 10.00 and take profit at at 9.30.

We believe that under-valued NOK will gain more fair value against EUR with the help of rising oil prices.

Long USDCAD

We have entered long-term trade at 1.3144 with stop loss at 1.25 and take profit at 1.40.

FED tightening is not fully priced in the market. Probable US border tax adjustment would boost USD, but also will have a negative impact on Canadian trade. Bank of Canada is will not tighten in firs half of 2017

Top trades for 2017

Here is our view:

1. Long USDJPY - Global yields will rise and cause further outflows from Japan, higher inflation expectations and Trump will deliver fiscal stimulus


2. Short AUDUSD - AUD will be affected will slowdown in Chinese demand while we are bullish on USD


3. Short EURNOK - NOK will benefit versus Euro due to rising oil prices and local forward interest rate


4. Short EURGBP - Undervalued GBP will recover because we will not see more negative news from UK


5. Short EURUSD - The pair is heading to the parity - USD strength combined with European political uncertainty  

Long USDCHF

We have entered long-term trade at 0.9894 with stop loss at 0.92 and take profit at at 1.05.

We believe that richly valued CHF will lose its value against USD whose tightening cycle has just started.