Daily Observations: November 15, 2012
- Long AUD/USD from 1.0318, Stop at 1.0280, Target 1 at 1.0395
- Long EUR/USD from 1.2720, Stop at 1.2620, Target 1 at 1.2790, Target 2 at 1.2960
- Long EUR/CHF from 1.2018, Stop at 1.1990, Target 1 at 1.2500, Target 2 at 1.2750
Time Frame: 1-day to 1-week
- Pending Long USD/JPY daily close >80.65
Maintaining the AUD/CAD short, but I have moved my Stop to my entry to reduce my downside from -95-pips to 0-pips. I am willing to sell more on a rebound. I've initiated a small AUD/USD long at the weekly S1 and the montly S2 (1.0310/15) to hedge my core AUD/CAD short.
Elsewhere, my EURUSD long remains the same, and a move over 1.2790 (last Friday's high) will prompt me to move up my Stop to my entry to reduce my downside from -100-pips to 0-pips.
--- Written by Christopher Vecchio, Currency Analyst
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