Daily Observations: February 22, 2013
- Long EURCHF from 1.2018 (1/2), Stop at 1.2218 (locked-in +200-pips), Target 2 at 1.2750
- Long USDJPY from (1/4) 90.35, Stop at 91.85 (locked-in +150-pips), Target 2 at 93.30 HIT, Target 3 at 95.00
Time Frame: 1-day to 1-week
Recently Closed Positions:
- Closed Short AUDUSD (1/2) from 1.0345 at 1.0300 for +45-pips.
Heading flat into the weekend outside of the Long EURCHF and Long USDJPY positions, given Italian elections - not worth keeping any irons in the fire at this point in time. New positions in EURUSD, GBPUSD, and AUDUSD will be taken next week - looking to sell rallies across the board as the US budget sequester comes into the picture.
I also host a weekly Live Trading Q&A in DailyFX Plus, on Tuesdays at 07:15 EST / 12:15 GMT, in which I delve deeper into my positions and thought processes behind my analyses.
--- Written by Christopher Vecchio, Currency Analyst
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