I know everything seems to be pointing towards a higher USD but I have decided nonetheless to cover my small AUD/USD short position and to increase my long cable position. It’s basically because the cable has done more or less what I had expected after topping out above 1.67 and I think if cable is to fly higher, then it’s unlikely that AUD/USD will fall much further for now at least. If cable breaks below 1.6050 then I’ll reduce again and curse my timing. I’m still running a very small GBP/JPY long position which I’ll stick with for the moment. I love the side but I think my timing might be off. It’s much easier for me to eventually get the timing right once I have a small position, as then I pay much closer attention.
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