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Forex Analysis: Short EURUSD, Closed AUDUSD at Small Loss

Forex Analysis: Short EURUSD, Closed AUDUSD at Small Loss

2012-11-12 21:15:00
David Rodriguez, Head of Product
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I'm now long the US Dollar (ticker: USDOLLAR) against the Euro and the Japanese Yen, but I've closed my AUDUSD-short position as it broke above its overnight trading high.

As I wrote yesterday, I think the Dow Jones FXCM Dollar Index breaks above the key 10000 mark, and our crowd sentiment-based strategies have likewise gone long USD verus the Euro and Australian Dollar. Unfortunately the AUDUSD position was stopped out, and I closed my own trade as a result.

I went short Euro from Friday near $1.2700 against the week-to-date high, and that position remains in force as long as we stay below $1.2740.

The USDJPY long position will remain in force as long as we stay above September lows on a weekly closing basis.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up to David’s e-mail distribution list via this link.

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