Update
Well I'm pretty happy with the trades today. I have closed both positions with a small 10 pip loss on my EUR / CHF trade, more than offset by a 50 pip profit on the GBP / JPY.
With the global economy looking in such good shape, a lot of emphasis has shifted to carry trade strategies. It's important to remember the inverse relationship that high interest rate currencies like the Aussie (6.25%) have with low interest rate currencies like the Yen (0.5%). I have been using price movements in one pair to signal trade exits (and entry confirmations) on the other.
-Benjimang
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