Citi Makes An 'Opportunistic' Exit For USD longs: Here Is Why?

what do you mean against the bank?

main trend is still bulls for usd,
11 month low has been breached.

news > technical analysis

strong us = strong macroeconomic data = usd bulls

imho 1,29 should be tested before 2015

Why?

Some people learn, some don't

Don't believe in Citi, Hsbc etc...

just don't believe efxnews. spreading rumors is their only task.

Expect to see euro to rally back up to 1.3337 if this is true, the markets still have room on the down side thus actual profit taking by market makers will happen when everybody goes into a fenzy of shorting the euro..

totally bullshit, dont believe this kind of manipulated news

because he want to know if he can go against the bank

if they are already out of the market they will not cause the USD to fall will they

Obviously a smart move (for the most part) by the CITI folk - one would say not a cent too early for the Euro and USDCHF (one wonders though why they trade both currencies at the same time given it is no hedge and doubles risk directionally, but I am sure they know what they are doing). What is not so smart in my view is exiting long on USDJPY (except as a short-term ploy). The USDJPY currently reflects the pair in which USD strength is configured to sustain (we did indicate elsewhere it will rise strongly before now). Based on a reading of the volatility structure of the USDJPY for key intervals - it is secure to remain long for the long-term in my view. There is a turning down instantaneously no doubt but 105.800 is doable in the not too distant future and the current downfalling should not go below 103 my much (if at all before a reaction up).

Overall, smart retail players should see Citi as a good example of smart trading with a strategy that is not given to unrestrained guidance by fundamental thinking and one that respects the mathematically chaotic structure of markets. Oversold/Overbought is euphemism in my book for the strict amplitudinal limits that the cyclic structure of flows entail per the fractal structure of markets (and though nowhere easily estimated to the pip and far better anticipated by chaotic models of the market, but nevertheless important to how markets work).

Citi is a smart trader (and I hope no one comes up the regular inanity of banks trying to mislead).

The Crow (._.)

BTW: What is baffling is that since one started tracking these banks to compare with the approach I developed to use - they give such good advice and are somewhat really accurate in their calls one wonders why retail folks (without better alternatives) tend to ignore them in their trading, when a lot of the time they are so sound.

efx are more wrong than right. trading against their analysis is good.