Tuesday, February 06, 2007

Quiet Market

The market seems to want to do little for the time being. As such it seems to me that carry and range trading should be in play. Mexico Stopped at the top of its range (see my post from Jan 30) but Brazil broke it range and has continued (See Feb 1 )lower. Therefore play the range until it is broken. I see potential for Brazil to have a problem at the 2.05-2.08 area. So I would not sell dollars aggressivly here, but rather wait for the break to initate a substantial position. For now I continue to be short small dollars and short rates in Brazil and Mexico.

These are the FX Trading Ideas for today.

Good Luck and Good Forex Trading.


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