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Currency trading involves risk of loss.
Leverage magnifies both gains and losses.
Having issued a sweltering rally since mid-July in opposition to the other major the currencies, the US Dollar seems at last set to return some ground.
EUR/USD
Euro positioned to retrace loses
EUR/USD Strategy
1. Continue holding short EURUSD at 1.5510.
2. Retain stop-loss to 1.4994, protecting 516 pips in profit.
3. Next “soft target” lies near 1.3860.
GBP/USD
Bearish momentum may finally yield a correction
GBP/USD Strategy
Flat.
USD/JPY
Yen turns choppy below Wedge support
USD/JPY Strategy
Flat.
USD/CAD
Rally reversed at key resistance
USD/CAD Strategy
Flat.
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Posted on Sep-15-2008
