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Forex Strategy: Part of EUR/USD Short Booked, AUD/USD Short in Play

Forex Strategy: Part of EUR/USD Short Booked, AUD/USD Short in Play

Ilya Spivak, Head Strategist, APAC

I sold EUR/USD at 1.3644 in line with my long-term fundamental outlook. I have now booked profit on half of the trade and moved the stop to breakeven.

I've also entered short AUD/USD at 0.9414, initially targeting a return to 0.9324. A stop-loss will be triggered on a daily close abovethe July 1 high at 0.9504. I will take profit on half of the trade and move the stop-loss to breakeven on the remainder of the position once the first objective is met.

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