The Federal Reserve released its latest Beige Book on the US economy Wednesday with the report proving USD-supportive in the late US and Asian sessions.
Article / 23 November 2012 at 19:40 GMT

FX Trend Snagger Update: 2012-11-23_late

Head of FX Strategy / Saxo Bank

News - see also PDF attached to this post for fill details, etc.
-> GBPUSD position stopped out at lowered stop, AUDNZD close to stop-out
-> Model goes long 2 units AUDUSD at today's close
-> EURUSD hovering near buy signal - we buy 1 unit now and wait for Monday on rest
-> EURJPY and GBPJPY longs awaiting entry into profit-taking zone

Additional explanation for EURUSD - the long position trigger was barely triggered and we have key event risks this weekend and on Monday for Europe, so we'll wait for Monday's session before possibly adding another long unit - also because we just added another full USD short position with the AUDUSD short today.

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