Forex Strategy: Holding Short EUR/USD and AUD/USD

By DailyFx | Updated July 30, 2014 AAA

DailyFX.com -



I sold EUR/USD at 1.3644 in line with my long-term fundamental outlook, initially targeting 1.3583. A stop-loss will trigger on a close above 1.3700.



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.



In both cases, 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.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD reaches fresh highs above 1.0900

  2. Forex News

    EUR/USD: market sentiment favours shorting the pair - FXStreet

  3. Forex News

    US Dollar Tests Key Support on Big Week for FX Markets

  4. Forex News

    EUR/USD in red near 1.0850

  5. Forex News

    EUR/USD sees downside risks – FXStreet

Trading Center