"Trading Strategy: We like EUR/USD higher to tax ECB patience. A break of 1.40 looms. Cable can get dragged higher too near term as markets romance the idea that Bank of England can (a) raise rates before the Fed; and (b) subsequently tighten faster than the Fed. Long term GBP fundamentals are poor. We are sellers of NZD versus USD on any rallies to 0.87-0.90. We are sellers of SEK. In EMFX, we still like long USD/CNH for 6.30 then 6.40 and long USD/RUB on poor – and deteriorating – Russia fundamentals. In a more Carry and risk constructive direction, we like short USD/BRL and short USD/KRW"

Views: 96

Tags: BRL, ECB, EURO, EURUSD, GBP, KRW, NZD, RBS, RUB, SEK, More…USD, USDBRL, USDKRW, USDRUB

Comment by Srinivas dev on April 22, 2014 at 10:16am

do  you  have  any long positions in eurusd ? or  you  sell on rallies  here?

Comment by Daologic on April 22, 2014 at 10:28am

I sell on rallies atm. I expect EU to make a higher legg slightly above 1.39.

Comment by Srinivas dev on April 22, 2014 at 10:48am

ok I  will look at those levels  to short eurinr futures April 26th

Comment by JimV on April 22, 2014 at 12:26pm

Where do i think GBP could top ? 

Comment by Daologic on April 22, 2014 at 12:47pm

Hi JimV! Is realy hard to say atm. Anyway, an important top has been put at 1.6841. It can make another top. In my view, the pair will correct lower again from this levels.

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