Macro Digest: It's time to get long in EURUSD
By Steen Jakobsen
Our JABA model sees broad-based and significant weakness in the US dollar through mid-Q3 into Q1-2015. I’m already short USDJPY (from the present level) and am now adding long EURUSD.
I'm buying EURUSD here - for a couple of reasons:
#1: Positioning - see graph below
#2: My short-term turned up...
#3: JABA model sees clear weakness in US dollar mid-Q3 into Q1-2015
Spot cash: 1.3344
Stop: 1.3270 offered
-- Edited by Clare MacCarthy
Steen Jakobsen is chief economist of Saxo Bank