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Trade View: Seeking breakout in long gold vs euro
Instrument:
XAUEUR
Price target:
1200
Market price:
1109
Background
Picking up a long gold vs. euro exposure for the Macro Monday book, this is a partial hedge to the USD longs in the book, as well as wanting a bearish skew on euro, with what looks like support from the charts - potential breakout in the making
Management and risk description
Picking up 1x AUM, so in the MM case $10m
Parameters
Entry:
1,117.65
Stop:
NAV Trade, a pullback to the 200D of 1088 would lead us to re-assess things
Target:
$1200, depending on the rest of the exposure of USD longs
Time horizon:
2-6m
Picking up a long gold vs. euro exposure for the Macro Monday book, this is a partial hedge to the USD longs in the book, as well as wanting a bearish skew on euro, with what looks like support from the charts - potential breakout in the making
Management and risk description
Picking up 1x AUM, so in the MM case $10m
Parameters
Entry:
1,117.65
Stop:
NAV Trade, a pullback to the 200D of 1088 would lead us to re-assess things
Target:
$1200, depending on the rest of the exposure of USD longs
Time horizon:
2-6m
Source: www.tradingfloor.com