DislikedI can tell you what's happening. After weeks and weeks and even months of pressure to the Euro it's time for a correction. It's that easy. Of course you don't see that on a noisy 5m intraday chart.
This can go up to 1.3850 without any problems and even then the down trend is still intact.
Keep in mind that the Chicago Euro net short futures have its highest level, higher even than in Sep 2008! Now you need some really bad stuff to get new(!) fresh sellers. This can really lead to some kind of a short squeeze if we go above 1.37...Ignored
- #205,521
- Mar 3, 2010 5:39am Mar 3, 2010 5:39am
- Joined Nov 2008 | Status: Full Time Trader | 10,867 Posts
- #205,527
- Mar 3, 2010 5:49am Mar 3, 2010 5:49am
- Joined Nov 2008 | Status: Full Time Trader | 10,867 Posts
- #205,529
- Mar 3, 2010 5:50am Mar 3, 2010 5:50am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
- #205,536
- Mar 3, 2010 5:58am Mar 3, 2010 5:58am
- Joined Nov 2008 | Status: Full Time Trader | 10,867 Posts
- #205,538
- Mar 3, 2010 6:01am Mar 3, 2010 6:01am
- Joined Feb 2008 | Status: Trader | 2,258 Posts
All that is left in FF is just plain garbage. "Cloggie"