Short USD Trades – October 14 – 17th?
As per my posted “trade ideas” Friday, a couple of the “short USD” ideas have taken shape. In fact nearly everything is moving in said direction short of the pesky NZD. This damn currency has been bobbing around / consolidating for nearly a month and has proven to be a real stubborn pain in the ass.
For the most part USD weakness “again” appears to be the move , although at this point nearly every single chart ( looking at nearly any time frame) could almost / just as easily go the other way.
The U.S Dollar is undoubtedly the “tough nut to crack” here, and “with it goes” the rest of it so…..
Here we sit. On the fence again.Kinda.
With risk events such as the U.S Gov Debacle only days away, it makes perfect sense that currency markets aren’t moving too much, as it also remains to be seen where equities, bonds and gold will find their direction.
I like where I’m positioned here but again, am trading with 1/2 to 2/3 smaller position size than when “out on the highway” so we keep things small while we come around the corners.