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  • The greenback faces broad selling today as risk tolerance improves along with equity rallies. The equity rallies were primarily fueled by the gradual uncovering of stress test details and upbeat earnings. The same story of components have been the major market driver for the entire week .Today however, we threw some new factors into the mix including some of the only relevant economic data to be released this week. Even though markets are still net losers since Monday, the voice of optimism is still clearly audible. The Dow today advanced by about 100 points. The dollar was stronger against the pound and yen, but lower against the euro, cad, aussie, and kiwi.

TRADE IDEAS

  • Trades to Watch
  • Trades in Progress
currency trade idea
AUD/USD
Medium term



Buy Buy at 1.0755
Stop at 1.0681
Target at 1.0834
currency trade idea
GBP/CHF
Medium term
Opened 2/8/2012
Sell Short from 1.4470
Stop at 1.4602
Target at 1.4352
AUD/CAD
Medium term
Opened 2/6/2012
Buy Long from 1.0740
Stop at 1.0655
Target at 1.085
USD/CAD
Medium term
Opened 1/31/2012
Sell Short from 0.9990
Stop at 1.0005
Target at 0.9905
These are hypothetical trades and should not be relied upon as a substitute for independent research.

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