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Long EUR, GBP, short AUD, USD

Long EUR, GBP, short AUD, USD

2012-03-21 18:40:00
David Rodriguez, Head of Product
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I remain long EURAUD from 1.2535 and have just narrowly missed getting stopped out. I have further confidence in the position now that "Tidal Shift" of the DailyFX PLUS Trading Signals has taken the position. Furthermore, the SSI shows that traders are net-long the AUDUSD while short the EURUSD. This makes me effectively bullish EURAUD until further notice.

I remain long GBPUSD but not by much, as the position has just narrowly missed getting stopped out. I may soon lose patience with the trade as the pair trades near the top of its multi-month range. Yet the SSI shows crowds are short and I have no compelling reason to close just yet.

--- Written by David Rodríguez, Quantitative Strategist for DailyFX.com

To receive this author's reports via e-mail, contact drodriguez@dailyfx.com with subject line "Distribution List".

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