CNBC Money in Motion trader Amelia Bourdeau wants to short EUR/NZD on a breakdown through 1.7400.
Here is Ms. Bourdeau's rationale for her EUR/NZD short trade idea from July 5, 2011:
Last week Amelia's AUD/JPY short trade idea from 6/27/2011 (two days before the 6/29/2011 Greek austerity vote) as presented on Fast Money was either not triggered to get short, or the trade would probably be stopped out by now if entered. I feel that Amelia was probably looking for a break of the previous day's (6/26/2011) low of 84.051 as a trigger to get short since the entry price of the trade is shown as 84.0500:
Following is the rationale behind Ms. Bourdeau's AUD/JPY short trade idea from 6/27/2011:
It seems as if much of Wall Street was caught on the wrong side of the Euro last week. Andy Busch was also stopped out on his EUR/USD short idea as presented on Money in Motion on Friday June 24, 2011 for -250 pips.
All of the stop outs do not mean that the currency traders' overall thesis is wrong. Obviously the price action indicates that the timing and/or estimation of the level of volatility/optimism was not correct with regards to the Euro.