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  • Speculators Inching Closer To Turn Their Bets Into Net Euro Long

    From efxnews.com

    Read Full Story at efxnews.com

    Speculative traders on the Chicago Mercantile Exchange moved very close to turn their wager into net EUR longs on year-end position adjustments, data from the Commodity Futures Trading Commission (CFTC) showed on Friday. Traders continued to cover their EUR bets slashing their short EUR position by 70% after cutting it by another 5% last week to reach a total of $1.6 billion as of Tuesday. In a parallel move, traders aggressively dumped USD by increasing their short USD bets by 137% to reach a total of $7.6 billion as of Tuesday. Looking ahead, the market will get into a quiet holiday mode next ... (full story)

    • Guest

      IP XXX.XXX.163.190
    • Time to short...

    • Mingary

      773 posts
    • time to sell very soon. A trend will continue as long as they are losers holding on to their losing position.

    • pip_trader

      635 posts
    • Fundamentally, there is not much of a reason to hold on to the Euro. Technical it is in an uptrend, but the near parabolic state will cause it to retrace. The US markets are heavily inflated solely on Fed money and fiscal cliff talks. Two outcomes will happen:

      1. No fiscal cliff plan, thus causing the Euro to decrease with markets.
      2. Short-term fiscal cliff plan, thus causing traders to become weary.

      Let's face it whether we are hoping on the EZ or US to get their shit together, it has already been priced in to assets to some degree. We are looking for any reason to sell this market.

      Just hearing word of Boehner's Plan B vote falling through the S&P immediately dropped 50 handles. We already new even if the House passed it, it would have been vetoed by the President.

      Unless the politicians fully address the cliff in the US there will be a selloff and likely the Euro will too.

    • Guest

      IP XXX.XX.124.17
    • Quoting pip_trader
      Technical it is in an uptrend, but the near parabolic state will cause it to retrace.
      In addition, potential double top has formed on H4 chart, and a shooting star found on the weekly chart.
      If the market able to break last week's low @ 1.31429 which also below the 38.2 Fibo Retracement then more than likely a reveral.

      Merry Christmas and Happy New Year to all.

    • IberoForex

      560 posts
    • Fundamentally the cliff will happen! They're just discussing the size of the cuts, which fundamentally is always negative! Nobody wants to spend less, or earn less!

    • pip_trader

      635 posts
    • I understand what you mean, but I was just address that I believe regardless of what will happen, the markets and Euro will continue to decline because I've seen on here many who think the Euro will spike because Obama wants a deal done.

    • Guest

      IP XX.XXX.183.239
    • You guys are so sure about what you are saying.... Are you insiders or what, then why are you visiting sites like this if you are that kind of well informed persons?

    • IberoForex

      560 posts
    • As for the SP500'm waiting for a higher value. If you see in Charts 1 week. 1 High low, then higher then lower, a higher missing to have another lower!

    • jaygee

      2,166 posts
    • this new format sucks. blue on blue on blue on......man it gives me the blues. know what i mean? blue names on blue status bar on blue background with blue border and white everywhere else. light blue, lighter blue, blue and dark blue and more blue. bell bottom blues

    • sunilpawar

      264 posts
    • Well guys time for market to open in few hhours

      hope all of u had nice weekand

    • pip_trader

      635 posts
    • @Guest IP XXX.XX.124.17, I think the downtrend will continue, as well. Merry Christmas to you.

      @ Guest IP XX.XXX.183.239, I do not need to be an insider. My intellect, experience and logic take care of that for me. Last thing you need to is be condescending hiding under a Guest tag. If you had an experience at all you would have had offered in it a rebuttal.

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