Saturday April 8, 2017 - 15:09:13 GMT
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Amazing Trader And Commitment Of Traders Ideas For 4 April 2017 Data
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Amazing Trader EURUSD charts are regularly updated on your systems
Most trading is all about stops. The Commitment of Traders Report (COT) is an imperfect, but useful, "sampling" of market positioning. I would prefer more frequent and precise readings, but we have to live with what we get. The data work for the purpose of getting an idea if traders are positioned long or short and if they in big or small.
Traders have basically exited their EURUSD shorts. Position trading simply has not been working well. Also undoubtedly EUR positings are not just againsy the USD. EUR crosses vs. the JPY and GBP are undoubtedly significant. I feel traders should avoid from ideas in EURUSD and take the market one day at a time. It won't stay like this forever.
The GBP tends remains very sensitive to data, and that is helpful to those of us who rely on active markets. Their data tend to be released in the mid-month period. As for the Commitment of traders data, markets are keeping their net GBPUSD shorts. Stops will be mostly above the market. From a trading perspective, we always keep an eye on EURGBP cross as a barometer of flows in and out of the EUR. These flows often directly impact EURUSD.
Clearly the Bank of Japan has been maintaining a floor under USDJPY, but it geraually has been giving way. The USDJPY tends to correlate positively with the yield on the U.S. 10-yr note and equity prices. Markets remain long USDJPY but those positions are declining.
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