MH Trade Summary: Adding Two GBP Long Trades
- By Bilal Hafeez
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Current Trades
Portfolio Changes
We made three changes since last week.
- Today, Viresh went tactically long USD/JPY targeting 152 after the Fed failed to out-dove the market. Meanwhile, Japanese politics and a dovish BoJ should keep the yen weak.
- Ben went long A) EUR/GBP 1×1.25 15 October 0.8650×0.8590 put spread and B) long GBP/NZD 1×1.25 15 October 2.2875×2.3 call spread. We think the market is too bearish on GBP while data has the potential to surprise higher in coming weeks.
Open Trades (Including Trade Notes)
DM
Rates
- Long SOFR Jun 26 (50% position) (entry: 96.660, target: 97.410, stop: 96.750) – read here.
FX
- Short DXY (50% position) (entry: 99.80, target: 90.00, stop: 103.50) – read here.
- Long NOK/SEK (entry: 0.9415, target: 1.000, stop: 0.918) – read here.
- Long EUR/GBP 1×1.25 15 October 0.8650×0.8590 put spread – read here.
- Long GBP/NZD 1×1.25 15 October 2.2875×2.3 call spread – read here.
- Tactically Long USD/JPY (50% position) (entry: 148.00, target: 152.00, stop: 146.50).
EM
FX
- Short EUR/ZAR (entry: 20.670, target: 19.800, stop: 21.100) – read here.
- Long EUR/PLN (50% position) (entry: 4.270, target: 4.450, stop: 4.180) – read here.
Commodities
- Long Gold (entry: $3,470, target: $3,750, stop: $3,470) – read here.
A record of our historic trades can be shared on request.
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