Saturday April 15, 2017 - 16:04:14 GMT
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Amazing Trader & Commitment Of Traders data (4/11/17) USDJPY Continues to Fall Register for the Amazing Trader
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. No change from a week ago. Traders have exited their EURUSD shorts. Also, position trading simply has not been working well. EUR positings are not just againsy the USD. EUR crosses vs. the JPY and GBP are undoubtedly significant. I feel traders should avoid big 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 can be helpful to those of us who rely on active markets. U.K. data tend to be released in the mid-month period. As for the Commitment of traders data, markets are maintaining their large GBPUSD shorts. Stops will be should maintained 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.
The Bank of Japan appears to be having trouble holding a floor under USDJPY. The floor 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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