[B]My picks:[/B] Staying Short EUR/USD
[B]Expertise:[/B] Fundamentals Combined With Technicals
[B]Average Time Frame of Trades:[/B] 1 Day - 1 Week
EURUSD Update: I am looking to stay short EUR/USD after entering the trade last Wednesday at 1.4165, as daily charts showed that price reversed from the top of its rising channel formation and RSI fell from overbought levels. I’m looking for a drop down toward the 50% fib of 1.2885-1.4340 at 1.3620, and at this juncture, I’m moving my stop from 1.4340 down to break-even.
AUDUSD Update: As per my pick from Friday, I am looking to sell AUD/USD on a daily close below 0.7900. I will likely place a stop above 0.8000, where there is falling intraday trendline resistance and this morning’s highs, and will set a limit order near 0.7500, which marks a psychological point as well as the 38.2% fib of 0.6285-0.8266. Event risk will come into play on Wednesday, but any subsequent volatility should only be short-term in nature.