Current Positions:
- Long EUR/CHF from 1.2018, Stop at 1.1990, Target 1 at 1.2500, Target 2 at 1.2750
- Long USD/JPY from 80.65 (1/2), Stop at 80.75, Target 2 at 83.30
Time Frame: 1-day to 1-week
I stayed quiet this week as I found the return of liquidity anything but predictable; and certainly with US political affairs increasingly tense and the European debt crisis looking shaky despite "progress" (the bickering over Greece is not constructive should the country need help in the future - disagreements could easily last longer than a week, and who knows what side of the bed the German parliament will wake up on when they need to ratify said prickly measures), this was a week for me to stay on the sidelines; I held my current two positions but added nothing else.
This coming week, I'll be looking to take advantage of potential breakouts in the AUD/USD, EUR/JPY, and EUR/USD.
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 cvecchio@dailyfx.com
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