Forex Strategy 03.01.2013: Stay Short EUR/SEK and GBP/USD
Here you can find all the latest breaking forex and currency news about Forex Strategy 03.01.2013: Stay Short EUR/SEK and GBP/USD including currency analysis and forecasts, live foreign exchange rates, central bank interest rates, and currency trading strategies from experienced fx traders and forex platforms.
I sold EURSEK at 8.7315 expecting Risksbank to keep rates on hold while the ECB leans toward easing in 2013 as recession lingers. I added to the position at 8.6409 as a corrective rebound launched in early January faltered. Prices are now consolidating below resistance at 8.4764 and I wil continue to hold short, looking for a close below 8.4234 to expose 8.3618. A stop-loss will be triggered on a close above 8.6353.
I also continue to hold short GBPUSD at 1.5662. Prices have now surpassed my second objective at 1.5296 and I will continue to hold short, aiming for a break below 1.5132 (100% Fibonacci expansion) to expose the 1.50 figure and 1.4965 (123.6% Fib). The stop-loss has been revised to be triggered on a close above the breakeven point (1.5662).
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
The article above is about breaking forex and currency news regarding Forex Strategy 03.01.2013: Stay Short EUR/SEK and GBP/USD, if you have any question about it. Please contact us by using the link below. Thanks for your patience.
- Crude Oil At A Crossroads, Gold Could Remain Elevated As USD Drops
- US Dollar Touches One-Month High, Gold in Consolidation Mode
- British Pound at Risk with July BOE Meeting Minutes in the Spotlight
- British Pound Out of Room and Facing Trial by Event Risk
- What is a Good Win Ratio?
- A Lot of Euro Technical Moves but Lacking Conviction
- Australian Dollar Rallies As Inflation Numbers Beat Expectations
- Trading Video: Has the EURUSD Drop Below 1.3500 Broken the FX Dam?
- US Dollar Technical Analysis: Rally Extends to 1-Month High
- USD/CAD Technical Analysis: Trend Line Resistance in Focus
- EUR/USD Technical Analysis: Euro Sinks to 8-Month Low
- USD/JPY Technical Analysis: Dollar Gains for Third Day
- GBP/USD Technical Analysis: Slow Down Drift Continues
- USD/CHF Technical Analysis: Franc Drops to 2-Month Low
- Strategy Video: EURUSD, EURJPY and EURAUD Break but Can They All Run?
- EUR/GBP Technical Analysis: Sideways Trading Continues
- AUD/USD Technical Analysis: Short Position Still in Play
- NZD/USD Technical Analysis: Digesting Losses Below 0.87
- EUR/JPY Technical Analysis: Eyeing 4-Month Channel Floor
- GBP/JPY Technical Analysis: Oscillating Around 173.00 Mark
- AUD/USD Vulnerable to Weak 2Q CPI Report; Key Support Zones in Focus
- EURJPY Approaching 8-Month Lows, Sentiment Favors Shorts
- NZDCAD Testing Range Support Ahead of RBNZ- 9285 Key
- Dollar Surges, but Two Key Risks Warn of Euro Bounce
- GBP/USD Range in Focus Ahead of BoE; Has EUR/USD Made a Lower-Low?
- EUR/USD Extends Losses Breaking a Key Trendline Support, US Data Mixed
- FX Reversals EURUSD Intraday Breakout
- FX Reversals: EURUSD Intraday Breakout
- Price & Time: Key Test for the Euro
- Managing USD Expectations with EUR/USD, USD/CAD (but not USD/JPY)