The Bank of Japan is committed to “powerful monetary easing” in the oft-spoken words of its Governor, Haruhiko Kuroda, until annualized consumer price inflation tops 2%. Well, it’s now at 0.7% and holding so that easing could yet be with us for years. Meanwhile the US Federal Reserve has raised its own interest rates from their post-crisis depths. It’s still expected to do so once again in December and to continue the process in 2018 if the economics permit, albeit gradually. ...
GBPUSD: Retail trader data shows 58.6% of traders are net-long with the ratio of traders long to short at 1.42 to 1. In fact, traders have remained net-long since Nov 01 when GBPUSD traded near 1.30522; price has moved 0.7% higher since then. The number of traders net-long is 4.5% lower than yesterday and 21.2% lower from last week, while the number of traders net-short is 10.5% lower than yesterday and 1.9% higher from last week. We typically ...
AUDUSD: Retail trader data shows 51.7% of traders are net-long with the ratio of traders long to short at 1.07 to 1. In fact, traders have remained net-long since Oct 24 when AUDUSD traded near 0.77751; price has moved 0.7% lower since then. The number of traders net-long is 8.2% lower than yesterday and 6.6% lower from last week, while the number of traders net-short is 2.2% lower than yesterday and 6.8% lower from last week. ...
For starters, we may very well see a bounce and retest of the neckline around the 11670-threshold. Retesting the ‘neckline’ is a fairly common occurrence and can offer traders a spot to establish (or add to) short positions. We may even see a stronger bounce develop back above resistance, but is likely to prove short-lived if the topping formation is to exert downward pressure. At this time, it will require a move above the trend-line running down off the September high and overtaking of Thursday’s ...
AUDUSD: Retail trader data shows 53.7% of traders are net-long with the ratio of traders long to short at 1.16 to 1. The number of traders net-long is 4.7% lower than yesterday and 4.7% lower from last week, while the number of traders net-short is 12.0% lower than yesterday and 13.0% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUDUSD prices may continue to fall. ...
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