USD Faces Immediate Downside Risks on Month-End Flows | Forex Factory

  • USD Faces Immediate Downside Risks on Month-End Flows

    From dailyfx.com

    A liquidity thinned week has had the USD on the backfoot with the greenback now below 92.00. Month-end flows are likely to dictate price action in the USD on November 30th as it had done at the back-end of last week. Several investment bank models have been touting above average USD selling for month-end rebalancing given the outperformance in US equities this month. The S&P 500 has had the strongest month since April with gains of over 11%. S&P 500 Posts Strongest Performance Since April Source: Refinitv The chart below shows the price action in the greenback in the run-up to the London 4pm fix back in April. ... (full story)

Comment Options
NotAtrader
Nov 29, 2020 4:23am
Permalink
Real-time Breaking News manipulations generate volatility and help traders make profits.
Sentiment manipulations like this one make traders lose money.
Reply
3Davy
Nov 29, 2020 5:41am
Permalink
Don’t trade the news and follow your charts and price action.
Reply
NotBoris
Nov 29, 2020 5:38am
Permalink
Get ready to contra trade this piece of usual sxxx article
Reply
Trader#EC82
Nov 29, 2020 5:04am
Permalink
Quoting NotAtrader
Real-time Breaking News manipulations generate volatility and help traders make profits. Sentiment manipulations like this one make traders lose money.
Yep. Agreed
I see US Index is going to reach around 93.4 area very short-term.
So not going down now.
Reply
warrenk1
Nov 29, 2020 1:45pm
Permalink
you know they'll be putting an opposite trade to the shit they're touting
Reply
Trader#7172
Nov 30, 2020 4:10am
Permalink
Actually, whether they know it or not they are probably right about this one lol. Liquidity is thinning on this run into a key liquidity zone 1.2030 - 1.2100. Retail traders are still 63.7% short here (1.1983) but retail longs are starting to build. Stops seen from 1.2020 - 35 should wipe quite a bit of the short position, bring in some retail breakout longs providing enough liquidity to fund our shorts and trap those longs. Heavy retail buy orders at 1.1900 and 1.1800 will provide plenty of fuel for our 1.1500 initial target. We'll set the entry now at 1.2035, target at 1.1500, stop at 1.2135.

Sincerely,

Unamed institutional trader.
Reply
Trader#7172
Nov 30, 2020 4:16am
Permalink
That last post was regarding the EURUSD by the way.
Reply

  • Related Stories

There are no posts to display for these settings.
  • Story Stats