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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
GBP/USD
Medium term



Buy Buy at 1.5702
Stop at 1.5676
Target at 1.5742
CHF/JPY
Medium term



Sell Sell at 83.7900
Stop at 84.02
Target at 83.44
currency trade idea
GBP/JPY
Medium term
Opened 2/1/2012
Buy Long from 121.0500
Stop at 120.17
Target at 121.9
USD/CAD
Medium term
Opened 1/31/2012
Sell Short from 0.9990
Stop at 1.0078
Target at 0.9905
AUD/NZD
Medium term
Opened 1/31/2012
Sell Short from 1.2870
Stop at 1.295
Target at 1.273
These are hypothetical trades and should not be relied upon as a substitute for independent research.

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