The 'risk off' rally continues today as we cited in the video update from last night. Per that we have been filled on a short in EUR/USD at a revised entry of 1.2570 (initially issued at 1.2625). We had also cited longs in USD/CHF in and around the .9550 area and that too has worked out real well. The updated USD/CHF chart is below.
Congrats to those that took the FREE trial offer last night and are now short EUR/USD - not too late to take advantage as the offer ends tonight - promo code FREETRIAL
The entire financial system is "infected" with headline risk - both ways, short and long. This is asinine but still a reality. For those willing to attempt day to day second guessing the next "headline", have fun. Otherwise, find a nice trout stream or offshore reef and enjoy the REAL meaning of life.
On last Friday's Money in Motion show, Todd and the Money in Motion crew engaged in heated EURJPY debate. Todd and Kathy Lien bearish of EURJPY, and Brian Kelly bullish. Well Aspen Trading just initiated the short EURJPY position....
Well, that forecast did not work - can't win them all. On to the next idea....considering EUR/AUD shorts but from a longer-term perspective that would require a wide stop-loss.
All right traders, going to mix it up a bit tonight with a 30-minute video that offers some insight on the S&P's, EUR/USD while tossing in a healthy dose of education on wave count...enjoy.
On last Friday's Money in Motion show, Todd analyzed Schlossberg's EURUSD short and confirmed it with Elliott Wave Theory. Watch the video below and then view the detailed chart for a trading game plan...
Pretty basic here - assuming you are of the opinion that the S&P's will fail to gain much more ground higher, USD/CHF will continue to push higher in the days ahead.
Looks like our forecast for longs in EUR/USD is beginning to play out. In the video below we analyze the current wave structure and why we see the sub-1.2200 level as attractive for long entries.
Aspenalysis: Simple To Follow FX Trade Ideas