Day 151: Holding onto my short dollar

$0

My short dollar trades from yesterday has been doing okay. There was a small dollar rally overnight, however, I stayed strong and maintained my positions. On a bad note, my stop loss got hit on my GBP/USD when BOE inflation report came out as dovish than expected. I guess if U.S is hesitant on raising rates, it just proves how difficult it would be for other countries.

One rant I have is on my long AUD/USD trade from last night. I held onto my long AUD/USD with the awareness of the unemployment and employment release. The unemployment rate came out a little worse than expected, it was 6.3% vs 6.1% expected; it was a difference of .2%, no big deal right? On the upside, the employment rate exceed everyone’s expectations coming in at 38.5K vs 10.2K! I was beyond excited when I saw the numbers. My excitement was short lived as AUD/USD spiked up really hard then slid down lower and lower. Not sure why this happened, but it still shows dollar’s tremendous strength. I’m counting on tomorrow’s NFP to be horrible and force the dollar to test 11990 zone in the USDOLLAR index. On that note, I’ll be holding onto my dollar short trades until tomorrow.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s