FX Trading Strategy For The Week - SocGen

1 February 2016, 16:35
Vasilii Apostolidi
0
69

The same CFTC data which show yen longs growing as of last Tuesday show the net long dollar position topping-out and the net Euro short being reduced slightly. So many traders have been beaten up by January’s gyrations that position reduction is the order of the day and unless we get a barnstorming NFP figure on Friday, the risk is still that EUR/USD breaks the topside rather than bottom side of its recent range. 

That argues for longs in EUR/GBP, at least for the first four days of the week. 

Otherwise, there’s no change to my desire to be short NZD/CAD and CHF/SEK. Once upon a time the Swedes were special for having negative rates but these days, not so much: Now they’re just special for having better growth than most.

PS: Copy and Earn on Forex4you - https://www.share4you.com/en/?affid=0fd9105     

Share it with friends: