We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.36%, while traders in France 40 are at opposite extremes with 83.29%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/K83nKB5PJq
  • Precious Metals Update: #Gold 1471.74 (+0.23%), #Aluminum 1755.00 (+0.80%), and #Copper 5849.00 (+0.64%) [delayed]
  • Event risks for the remainder of the week includes ECB's Financial Stability Review, $CAD Consumer Confidence, #USD FOMC Meeting Minutes, $JPY CPI reading, and ECB President Lagarde will speak in Frankfurt Check out our economic calendar to stay current on the latest releases https://t.co/8Jl5Va6CiQ
  • 🇺🇸 USD Net Long-term TIC Flows (SEP), Actual: $49.5b Expected: N/A Previous: -$41.2b https://www.dailyfx.com/economic-calendar#2019-11-18
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: France 40: 0.19% Germany 30: 0.09% Wall Street: -0.01% US 500: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Gz8GGSIMZU
  • #Bitcoin’s price outlook has weakened further after the coin broke beneath its 50-day moving average. Get your $btc market update from @PeterHanksFX here: https://t.co/MkXqsmNVEj https://t.co/3jo7t27leS
  • RT @FactSet: 113 $SPX companies have cited the term "tariff" during earnings calls for Q3, which is 13% below the number for Q2 (130) over…
  • House Leader Hoyer says House will vote Tuesday on Stopgap funding bill
  • Heads Up:🇺🇸 USD Net Long-term TIC Flows (SEP) due at 21:00 GMT (15min), Actual: N/A Expected: N/A Previous: -$41.1b https://www.dailyfx.com/economic-calendar#2019-11-18
  • Senate Leader Mcconnell says Trump ready to sign stopgap spending to December 20th -BBG
Forex Strategy: Holding Short AUDUSD, GBPJPY Positions

Forex Strategy: Holding Short AUDUSD, GBPJPY Positions

2014-05-20 13:00:00
Ilya Spivak, Sr. Currency Strategist
Share:

The Australian Dollar looks vulnerable to deeper losses in line with my fundamental outlook after prices broke below support at the bottom of a rising channel set from late January. I have entered short at 0.9328, initially targeting the 23.6% Fibonacci expansion at 0.9201. A stop-loss will be activated on a daily close above 0.9408, the May 14 high. I will take profit on half of the trade at the first target and trail the stop-loss to the breakeven level.

I also continue to hold short GBPJPY from 172.26. I booked profit on half of the trade at 171.27 and moved the stop-loss on the remainder of the trade to the breakeven level.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.