Medium term
/
Buy
Trade view / 28 May 2018 at 9:14 GMT

Trade View: Seeking breakout in long gold vs euro

Global Macro Strategist / Saxo Bank Group - Singapore Hub
Singapore
Instrument: XAUEUR
Price target: 1200
Market price: 1109
Background
Picking up a long gold vs. euro exposure for the Macro Monday book, this is a partial hedge to the USD longs in the book, as well as wanting a bearish skew on euro, with what looks like support from the charts - potential breakout in the making

Management and risk description

Picking up 1x AUM, so in the MM case $10m

Parameters

Entry:

1,117.65

Stop:

NAV Trade, a pullback to the 200D of 1088 would lead us to re-assess things 

Target:

$1200, depending on the rest of the exposure of USD longs

Time horizon:

2-6m

xaueur
 Source: Saxo Bank

Non-independent investment research disclaimer applies. Read more
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1y
MM77 MM77
Great idea K! I opened a long @ 1108 right after watching the MM this morning ;)

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