There it is. AUD/USD returned to 0.7840 after falling as low as 0.7625 a few hours ago in a post-RBA selloff. It would be nice to credit the strength of the Australian dollar but it’s really a dollar driven move. This is a pure squeeze, in my opinion. The five most-popular positions in markets are: 1. Long USD 2. Short oil 3. Long gold 4. Short euro 5. Long bonds All of them are taking a pounding today and the market is puking. Short squeezes can be a nasty piece of business. There is no great rule of trading a squeeze. It’s hard to tell when it will end but with the euro flirting with 1.1500; Greg notes a technical ... (full story)