Originally Posted by trader123

Often at the start of a new week, I will analyse what is the direction of USD and stock market. This is because this will affect all the major currencies and JPY currency pairs.

My view for this week is that USD will continue to weaken due to more fear in the US financial sector and stock market should remain week as there is no catalyst for it to rebound.

To tap on USD weakness, I had bought AUD/USD. In my view, AUD continues to remain the high yield currency with the strongest fundamental.

Bought 100,000 AUD/USD at 0.9686
Stop level at 0.9590
Target level at 0.9782

Chart: Forex and Binary Trading: Tap on US Dollar weakness this week