Updates on my trades, I took profits on short UJ, NJ, NZDUSD, AUDUSD. I am still short EJ and EURUSD. I was waiting for my short EURUSD position to hit my SL level, but PA has been sideways ever since. Take home message for me is that EURUSD is negatively correlated to equities, which is in contrast to its previous positive correlation in the last 7-8 years. EUR behaves more like JPY now than GBP, AUD, CAD, and NZD. Historically, JPY has been a funding currency, but it seems EUR has become a funding currency due to its low interest rate. That might explain the new type of behavior we see in EUR related pairs. In a falling stock market situation going long EURUSD might be a better trade than going short. But nonetheless, my favorite trade in a falling stock market situation is going short AJ, NJ or UJ.
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