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Jamie's Pick: 10/17/12

Jamie's Pick: 10/17/12

Jamie Saettele, CMT, Sr. Technical Strategist

The entire EURUSD long position was exited at 13090 yesterday after the New York close on the spike. The EURUSD has drifted higher but the current level is viewed as high risk for bulls. I may return to the long side on weakness into 13040/60 if it materilizes.

I am still long the AUDUSD from 10221 and the strategy of moving up the stop when appropriate has been the correct strategy. The stop is has been moved from 10145 to 10240 and now to 10270. I expect to tighten further tonight during Asian hours.

The AUDCHF long has been underway since 10/12. The action at the low last night is promising. Risk has been moved up from 9435 to 9488.

I just went short EURJPY today at 10320 with a 10390 stop. 10230/60 is the target area.

All comments are disseminated real time via Twitter @JamieSaettele

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