Saturday May 27, 2017 - 18:23:16 GMT
Share This Story
Global-View - www.global-view.com
Amazing Trader And Commitment Of Traders EURUSD Ideas for 23 May 2017 Data Register To Test Your Amazing Trader
Forex 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.
Markets EURUSD have flipped long. In the latest week, the EURUSD trade tested above the psychological 1.1200 line but by Friday's close was back below. Keep in mind, EUR positions are not just against the USD. EUR crosses vs. the JPY and GBP are undoubtedly significant. Markets are increasingly aware that the European economy is improving and that will be a EUR positive as it continues.
The GBP tends to be highly 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 had been maintaining large GBPUSD shorts and are continuing to wind them down. Stops are above the market. GBPUSD 1.3000 has been a key psychological benchmark. It finally was decisively breached last week but has been unable to hold it. Keep an eye on the EURGBP cross as a barometer of flows in and out of the EUR. These flows often directly impact EURUSD.
In the latest week, the Bank of Japan held a floor under USDJPY at 110.80. If the USDJPY starts to slide again, don't be surprised to see them support the pair. USDJPY tends to correlate positively with the yield on the U.S. 10-yr note yields and equity prices. COT positions remain long USDJPY.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."