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Daily Observations: November 15, 2012

Daily Observations: November 15, 2012

Christopher Vecchio, CFA, Senior Strategist

Current Positions:

- Short AUD/CAD from 1.0455, Stop at 1.0455, Target 1 at 1.0310

- 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 Positions:

- 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.

Any other trade ideas and general macroeconomic musings can be found in the Real Time Newsfeed, or by following me on twitter @CVecchioFX.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail

Follow him on Twitter at @CVecchioFX

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.