Bullish EURGBP as hedge and Bearish NZDUSD as diversification

I’ve had more time to study the market tonight and is running a second and a third instances of Quantised Trading Desk (QTD) to trade 3 currencies in total simultaneously. For my dollar bull sentiment, I’m dividing between USDJPY long and NZDUSD short. QTD still hasn’t taken a position in USDJPY in the past 24 hours. That’s a good thing as USDJPY is still drifting downward today even as the dollar is gaining some ground. My line in the sand is at 80.70 for USDJPY and above 0.8100 for NZDUSD.

EURGBP long is a hedge against my dollar longs. Again, I’m not making any trade at this point but merely setting up QTD to wait for the right moments to enter. A break below 0.8660 for EURGBP would challenge my bullish bias.

These three currencies should be my complete market bias for a while. I’m just going to let QTD do its thing and trade for me. Hopefully this will be the last you’ll hear from me about my market bias for a while.

NZDUSD, weekly

EURGBP, weekly

Related posts:

1. First QTD trade, 0.19% gain long EURGBP
2. Bearish USDJPY on 19th week of 2011
3. Bullish USDJPY on week of April 17, 2011
4. Paper trade: NZD/USD entry stop 0.7040
5. Paper trade: Short NZD/USD 50% @ 0.7381, stop 0.7430