Deutsche Bank - "The dollar is fast losing its status as the market’s consensus trade. Speculative longs fell for the sixth week in a row. However, speculative longs adjusted for open interest remain the second largest in G10, after NZD. At the same time, EUR longs were added to. The TFF report shows that fast money was responsible as leverage funds turned short USD while EUR longs were added to, meaning net EUR/USD positions are now +34% long. However asset managers positioning was exactly the…See More
RecapPersonally i did not get involved in any new setups last week, however out of posted setups last week at least one would be very much at the money at this point for the traders that got involved. With USD strength across the board bearish Cypher posted last week on GBP/USD pair is at least +100 pips in profit. EUR/USD 3 drives got completed @1.385's level as well, however the area where this pair found at least temporary resistance was much higher @1.39's. Traders with wider stops would…See More
World won't benefit much from US economic recovery - USD to appreciate in long term against EM currencies US GDP - a function of consumption driven growth in countries with high demographic dividend (working age population)Usually we here after strong US economic data that it would be positive for world economy and especially emerging economies. In my opinion, this correlation was valid till 2008 crisis. However one look at US Current account data coupled with GDP indicates that the…See More
Wednesday will see the release of major Japanese data on consumer confidence. The following are some trade ideas based on the forecast and projections for the economic event. For USD/JPY you want to but it on dips near 102 with a stop on 101.50 and set the target at 104.20. As for the EUR/JPY, the pair experienced a rising wedge formation last week. If the pair breaks the wedge then 145.66 will be exposed, the high of December of last year. A potentially profitable strategy may be to purchase…See More
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