AUD/NZD: Similar to GBP/JPY, the AUD/NZD remains stable at 1.2800-1.2850 above the market entry rate at 1.2774. Both currency band and currency correlation analysis interior the currency band remains to confirm that the AUD/NZD will move to upward direction to visit the target at 1.3150. The long position to continue to generate two sources of profits, the AUD appreciation by the NZD and the overnight rollover fee from their interest rate differential. This fee is more than enough to cover the cost on the overnight rollover fee on the three short positions for GBP/JPY.
EUR/AUD: The pair remains stable at market entry rate at 1.2857. As previously stated, the stop loss was adjusted down to the level of 1.3050 after the AUD/JPY to be corrected interior the AUD currency band. The target remains 1.2150. Similar to long position on AUD/NZD, the short position on EUR/AUD is generating two sources of profit, the AUD appreciation by the GBP plus the overnight rollover fee from their interest rate differential.
GBP/AUD: GBP/AUD moved to upward direction to the level of 1.6180 near the stop loss at 1.6200. The short market entry rate is 1.6070 to target 1.4600. The stop loss may be adjusted to upward by increasing the risk on the stop loss, subject to however to be confirmed by the average performance of GBP currency band's currency pairs and current performance of all open trading positions to maintain the level of risk assumed.
