The latest COT Report shows that large and small specs that combined positions in the latest period had an increase in the USD long position from 284.4K in the previous week to 312.5K.
The euro was able to close out last Friday’s trading session with its biggest one-day gain against the US dollar in eight-months. The EUR/USD shot up well over 200 pips after euro-zone leaders pledged to reduce Spain...
The EUR/USD pair rose rapidly on Friday as the European Union meeting announced that the leaders had come up with a “solution” to funding Spanish banks. The ECB looks likely to cut rates this coming week, and...
The USD/JPY pair got a boost from the positive headlines out of Europe on Friday as traders sold the Yen in general. The USD/JPY pair is essentially a fight between the two central banks, and as the...
GBP/USD rose during the session as the “risk on” trade came back into play. The trading community reached for anything risk related, and this had a lot of the higher beta pairs gaining, this one included.
The AUD/USD pair absolutely exploded during the Friday session as the word got out that the European Union came up with a possible workaround for the Spanish and Italian bond markets.
The USD/CAD pair fell hard during the Friday session as the oil markets absolutely spiked in reaction to the European Union meeting and its announcement.
Years ago, when working as a grain analyst for Merrill Lynch in Chicago, we had a meat analyst whose trading recommendations were almost always wrong.
USD/JPY fell on Thursday session, but recouped much of its losses. The resulting candle was a hammer, and it does look like we are starting to see some significant support at the 79.50 level. Below this area...
The USD/CAD currency pair rose dramatically during the Thursday session as the dollar gained in general. The breaking of the 1.03 level was significant, and although we did pare the gains a bit towards the end of...
