Forex Positions

Good Morning! There was further sell off in the EURUSD and AUDUSD pair last night as the USD gained strength. It’s just follow through from the better than expected ISM report yesterday. I believe these market machinations will be short lived and expect the pairs to reverse and head back up in short order. In the meantime, I’m holding 6 positions in these pairs (4 in EURUSD and 2 in AUDUSD). Right now I’m down 48 and 18 pips respectively, with my largest single loss at 75 pips in the EURUSD pair. It’s times like these I must remain true to my trading plan and stick it out. I ran my neural nets this morning and they still indicate UP trends for the EUR and AUD, so I’ll have to be patient. The worse case scenario is that I slowly scale out of losing positions. :)