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23 Feb 2015
Better trades available than EUR shorts – SG
FXStreet (Barcelona) - Kit Juckes of Societe Generale, shares few ideas to gain while trading the positive risk sentiment in FX.
Key Quotes
“I don't think that staying short Euros makes sense and even if selling rallies is what everyone wants to do, that is a better plan.”
“There is more to be gained trading the positive risk sentiment by staying long NOK (vs. CHF, for the long run) or even, for a short-term tactical trade, being long GBP/JPY as sterling shorts are squeezed out.”
“USD/JPY is range-struck but hawkish Yellen testimony would take it higher and GBP/JPY is a decent way to trade this, buying at 183.40 with a stop at 181.50 and a target of 190.”
“Otherwise, with commodity prices steadier, AUD can bounce a bit more (through 0.80?) though there's a good case for sticking with USD/CAD ahead of Yellen's testimony, just in case she is hawkish enough to re-kindle the uptrend.”
Key Quotes
“I don't think that staying short Euros makes sense and even if selling rallies is what everyone wants to do, that is a better plan.”
“There is more to be gained trading the positive risk sentiment by staying long NOK (vs. CHF, for the long run) or even, for a short-term tactical trade, being long GBP/JPY as sterling shorts are squeezed out.”
“USD/JPY is range-struck but hawkish Yellen testimony would take it higher and GBP/JPY is a decent way to trade this, buying at 183.40 with a stop at 181.50 and a target of 190.”
“Otherwise, with commodity prices steadier, AUD can bounce a bit more (through 0.80?) though there's a good case for sticking with USD/CAD ahead of Yellen's testimony, just in case she is hawkish enough to re-kindle the uptrend.”