Here’s the trade that is triggered by recent action in the dollar
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President of Aspen Trading Group. Dave’s approach to FX combines technical
and fundamental analysis that results in trades that fall into the swing
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As is frequently the
case, the outcome is usually more benign than expected. Sunday
afternoon gave every indication that domestic markets and the dollar would
likely sustain some damage on Monday morning.
While the dollar was under pressure during Sunday
Globex trading it never did breach the key 87.30-40 level (daily bull
trend-line) and has since traded back up and through the 50-day average at
88.15.
This is a very bullish sign for the dollar.
This solid performance has brought us into a
trade we have been anticipating for a few days now, a short in NZD/USD.
We are still holding on to a short position in
NZD/CAD from .8420 as well.
As always, feel free to send me your comments and
questions.