Hi guys,
I’m currently doing a school project on investing/trading in the foreign currency (FX) market and my group has been chosen to monitor the AUD/SGD market.
I am to assume a position size of 5 million AUD and make a trading decision, i.e. to take a long or short position in the currency by the end of the week.
I will then hold that position for the next 10 days. After which, I will close my position.
I understand this week’s EU summit may have a very big impact on currencies and it is better to wait till the end of the week to see the reaction of the Forex market on the outcome of the summit. Unfortunately, I must open the position by this week and the said reaction would become clear only on Monday.
So what do you think I should do with the way the market is headed? Go long or Go short?
Regards,
Jamie
I’m currently doing a school project on investing/trading in the foreign currency (FX) market and my group has been chosen to monitor the AUD/SGD market.
I am to assume a position size of 5 million AUD and make a trading decision, i.e. to take a long or short position in the currency by the end of the week.
I will then hold that position for the next 10 days. After which, I will close my position.
I understand this week’s EU summit may have a very big impact on currencies and it is better to wait till the end of the week to see the reaction of the Forex market on the outcome of the summit. Unfortunately, I must open the position by this week and the said reaction would become clear only on Monday.
So what do you think I should do with the way the market is headed? Go long or Go short?
Regards,
Jamie
