Wednesday November 9, 2005 - 13:35:33 GMT
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Aspen Trading Group - www.aspentrading.com
A couple of Trade Ideas
EUR/AUD is an appealing short as the 50-day ema has just been violated (1.6020). Both the 60 and 240-min charts are indicating a new leg lower is starting. This trade will likely take some time to play out as it moves somewhat slowly. We see a potential price target of 1.5910 for those positioned on a 'swing trade' basis.
GBP/JPY poised to trade lower towards 203.65 as the 60 and 240-min charts are coming together nicely (i.e. stochastic cross). This is a short-term trade but does have a decent risk/reward ratio.
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