A break about resistance in the USDX should confirm the end of the correction. Look to get short on the EUR. GBP, NZD and AUD vs the USD and JPY. I expect US dollar weakness against the Yen over the coming sessions so shorting JPY pairs may pay to be even more lucrative than USD pairs. I have also taken a short in Gold which is going to be a longer term hold.
*** EDIT *** Seems I spoke too soon. Seconds after I posted this rumours of a possible bailout for Greece were leaked sparking a wave of USD and JPY selling. I have already taken positions in several trades and I am going to hold them. I do not expect this rally to last.
No comments:
Post a Comment