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Forex Strategy: Continue Holding EUR/USD Short Position

Forex Strategy: Continue Holding EUR/USD Short Position

2013-11-19 13:30:00
Ilya Spivak, Head Strategist, APAC
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The trajectory of Fed policy – namely, looking to reduce stimulus by tapering QE asset purchases at some point in 2014 – still stands in stark contrast to that of the ECB. Recent comments from ECB officials suggest measures beyond this month’s rate cut are being discussed, tipping the policy outlook balance in favor of the Dollar.

I’m holding short at 1.3362, initially targeting 1.3148. A stop-loss is set to trigger on a weekly close above 1.3577.

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