Short AUD/USD (From 17-Sep to 19-Sep)

Trade was stopped out on 19-Sep

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Real-Time AmpGFX – Raising AUD/USD s/l to better reflect technical resistance (Tue 9/18/2018 9:54 AM MT)

As AUD rises to approach our stop-loss, we have re-evaluated and decided that our s/l is too vulnerable to be taken out within range highs.

We still tend to think the tariff news and risks in the Australian economy from housing and politics argue for a weaker AUD.

We have raised it to 0.7268 (from .7228)

Positions

Short one unit NZD/CAD at 0.8573; s/l 0.8623; t/p 0.8023 (Capital at risk 0.67%)

Short one unit AUD/USD at 0.7162; s/l 0.7268 (Capital at Risk 1.05% up from 0.65%)

 

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Real-Time AmpGFX – Sold AUD/USD on Tariff announcement (Mon 9/17/2018 4:53 PM)

Sold one unit of AUD/USD at .7162

Comment

The Tariff announcement by the White House outlines an escalation strategy if China retaliates that moves the tariffs to cover essentially all Chinese imports.  It also sets out a timetable to raise the tariffs from 10% initially on $200bn in goods on 24 Sep to 25% at year-end.

This appears to be more aggressive than was anticipated.

As such we have sold the AUD seeing significant risk of negative fallout to Asian currencies.

 

Positions

Short one unit NZD/CAD at 0.8547; s/l 0.8608; t/p 0.8023 (Capital at risk 0.79%)

Short one unit AUD/USD at 0.7162; s/l 0.7228 (Capital at Risk 0.65%)