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BKSWING – New EUR/USD and AUD/JPY Orders for 11.04.2014
We are placing 2 new orders in anticipation of this week’s monetary policy announcements from the RBA tonight and the ECB on Thursday. While we believe the RBA will remain dovish and drive AUD lower (we still have our Sell AUD/USD order), if their statement remains unchanged, it could lead to a relief rally in AUD that could drive AUD/JPY towards 100.
At the same time we are looking for further weakness in the EUR/USD and REMAIN LONG EUR/CHF.
**We remain long EUR/CHF at 1.2055.
Place the following new orders:
1.Sell EUR/USD at 1.2415
Stop at 1.2475
Close 1/2 at 1.2385
Close rest at 1.2230
2.Buy AUD/JPY at 99.65
Stop at 99.05
Close 1/2 at 99.95
Close rest at 101.50
And we still have the following pending order on:
1. Place order to Sell AUD/USD at 0.8616
Stop at 0.8676
Close 1/2 at 0.8586, move stop to breakeven
Close rest at 0.8450
***Remember, if 2 orders trigger without one hitting T1 first, all other orders are canceled