Potential Short In EUR/AUD
Bo Harvey is writing today’s article.
Last week saw quite the whipsaw
in the dollar, as a strong bounce in the dollar unfolded against most
currencies. The NZD position I mentioned last week was stopped out, while the
stop at 111.00 remains intact in the USD/JPY short.
It would not be surprising to
see the dollar range trade for a period as the bulls and bears play tug-of-war;
it is my suspicion (nothing more!) that it is a low-probability event that the
dollar would take out the previous lows set earlier this year without the bulls
putting up a fight. Because of this, going light and being nimble—