FREE Forex Trading Course
Deposit $250 in an FXCM Micro account and receive the DailyFX Power Course FREE OF CHARGE. FXCM Micro is a discount brokerage service offering super low spreads, 1k lot sizes, and flexible 400:1 leverage. Click below to learn more.
Currency trading involves risk of loss.
Leverage magnifies both gains and losses.
After two week's of the EURUSD’s Speculative Sentiment Index holding below parity, retail traders once again find themselves net long euros. This rebound in positioning comes in conjunction with spot’s failure to re-test the top picks around 1.60 and the subsequent 300-plus point sell off from the monthly high set earlier this week. The lower highs in spot and volatility in retail positioning are both characteristic signs of a market that is turning from a trend to consolidation and potentially a reversal.
• EURUSD – Euro SSI Suggests Records Highs Are Out Of Reach
• GBPUSD – Pound Positioning Still Eyeing 2.00 As Retailers Bet On The Range
• USDJPY – USDJPY Positioning Takes A Bias, Points To Upside Breakout
• USDCHF – Traders Increasing Their Shorts As USDCHF Approaches Resistance
• USDCAD – USDCAD Positioning The Most Extreme Since The October Reversal
Suggestions as for now, keep the USD, sell the EUR at 1.56-1.57 when and if it will reach there.
12:35
Posted on May-30-2008
