Opened a very small short position in GBP/USD as it was tapping the 1.54 resistance level. I'll either trail it down through the GDP announcement on thursday, or let it stop out and try to re-enter short with a much larger position around 1.57.
Yen pairs still seem locked in consolidation and indecision. Fundamentally short yen vs all other pairs.
Monitoring the AUD situation closely. Its carving out a strong bottom, and while i'm fundamentally bearish AUD, the technical setup and current fed expectations make this out to be a good possible way to hedge my other trades. Short GBP/USD + long AUD/USD would possibly give me favorable technical setups on either side of USD likely leading to a win-win scenario. Waiting to see support/resistance is confirmed before entering here. After a bit of correction in AUD I would be looking to flip short.
Edit: GBP/USD threatening to take out the resistance higher has prompted me to go ahead and open the AUD/USD trade as a hedge. Both pairs currently trending upwards on dollar weakness. Currently -40 pips on GBP and +35 pips on AUD for a neutral stance. Monitoring both pairs closely, will open larger positions when the market makes up its mind.
No comments:
Post a Comment