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The US Dollar Index (DXY) appeared to be on a one-way course as it continued to aggressively fall through most of 2017 and the start of 2018. However, on January 25, after tapping 88.43, we have seen a bounce that has aligned with the global risk-off move. Now, the DXY is looking to rise for the second straight week,and a few key technical tests await the US Dollar Index at 91, the 38.2% retracement level of the October-January range followed ...
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Oil - US Crude prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed Oil - US Crude trading bias. Traders are defined by their lack of patience in realizing a profit, which could make the historically long ...
The New Zealand Dollar turned lower as expected, breaking the rising trend guiding the currency higher against its US counterpart since early December. The plunge played out against a backdrop of risk aversion that gripped financial markets amid worries about a steep Fed rate hike cycle. Near-term support is now at 0.7186, the 38.2% Fibonacci retracement, with a break below that on a daily closing basis opening the door for a challenge ...
Bitcoin, Litecoin, Ripple broke important levels For Bitcoin, 7888 in confluence with the 200-day MA may bring some relief, but not looking for it to do much more than that. Rallies are expected to be short-lived events, rather than sustaining moves higher. With that said, the November low at 5555 is the next big downside target. Chart 1 – BTC/USD Litecoin is dropping sharply after breaking out of a wedge, ...
US 500: Retail trader data shows 46.0% of traders are net-long with the ratio of traders short to long at 1.17 to 1. The number of traders net-long is 17.7% higher than yesterday and 26.5% higher from last week, while the number of traders net-short is 1.8% lower than yesterday and 5.9% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests US 500 prices may continue to ...
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