Thanks for the charts Clay, and your comments.
Regards,
Wilf
To: OpenFX@yahoogroups.com
From: clay@claymarafiote.com
Date: Sun, 26 Sep 2010 13:42:45 +0000
Subject: [OpenFX] COT 9-23-10
Good morning traders,
I hope your weekend is going well, or even better! Things have been good up here on the Potomac River, just south of DC, and it's still "summer": no frost in site (and socks are still optional). Phew!
If you're ready to get to the COT charts, you find them here:
http://finance.groups.yahoo.com/group/OpenFX/files/COT/
The US Dollar has been taken out back for a beating. Man, oh man, it wasn't pretty this week! AND, the euro looks to have some more room to the north as it nears a 50% retracement from last December's high, which aligns with a Fibonacci 1.272 extension of the August high to low. Things might start getting interesting here, or choppy, or both. I'm paying close attention here.
Of course the pound has been climbing, too. And, as with EURUSD, we'll have to pay close attention to the price charts to see if it's going to bust above it's August highs(an extension); currently, GBPUSD is at a .786 retracement and the COT charts (unlike the euro, Swissy, Aussie) show it being past extremes. About the USDCHF, the pair moved past parity this past week, really making the US Dollar look like a chump.
NZD is almost at extremes and may be poised for a turnaround, while CAD is in a state of confusion. JPY and the intervention plays make this pair interesting. I'd say The Bank of Japan (BOJ) isn't close to being done and there's upside for USD, here. It just makes sense for Japan's exporters, as a too strong yen doesn't bode well for profits.
Gold has pushed to new highs and we may be seeing a temporary top, or getting close. The COT charts are extremes, with the commercials net short and specs long. I wouldn't be surprised to see some selling; same goes for silver.
http://finance.groups.yahoo.com/group/OpenFX/files/COT/
It was great watching the Florida Gators land a convincing win against the Kentucky Wildcats, don't you agree? Okay, maybe not. But, for me, it was exciting stuff! And, it looks like The Gator Nation has a new rock star with freshman Trey Burton: 6 touchdowns (a school record). Next week is the big test as they take on #1 Alabama!
That's it for this week.
Be very well and...
Keep living large!
Clay
I hope your weekend is going well, or even better! Things have been good up here on the Potomac River, just south of DC, and it's still "summer": no frost in site (and socks are still optional). Phew!
If you're ready to get to the COT charts, you find them here:
http://finance.groups.yahoo.com/group/OpenFX/files/COT/
The US Dollar has been taken out back for a beating. Man, oh man, it wasn't pretty this week! AND, the euro looks to have some more room to the north as it nears a 50% retracement from last December's high, which aligns with a Fibonacci 1.272 extension of the August high to low. Things might start getting interesting here, or choppy, or both. I'm paying close attention here.
Of course the pound has been climbing, too. And, as with EURUSD, we'll have to pay close attention to the price charts to see if it's going to bust above it's August highs(an extension); currently, GBPUSD is at a .786 retracement and the COT charts (unlike the euro, Swissy, Aussie) show it being past extremes. About the USDCHF, the pair moved past parity this past week, really making the US Dollar look like a chump.
NZD is almost at extremes and may be poised for a turnaround, while CAD is in a state of confusion. JPY and the intervention plays make this pair interesting. I'd say The Bank of Japan (BOJ) isn't close to being done and there's upside for USD, here. It just makes sense for Japan's exporters, as a too strong yen doesn't bode well for profits.
Gold has pushed to new highs and we may be seeing a temporary top, or getting close. The COT charts are extremes, with the commercials net short and specs long. I wouldn't be surprised to see some selling; same goes for silver.
http://finance.groups.yahoo.com/group/OpenFX/files/COT/
It was great watching the Florida Gators land a convincing win against the Kentucky Wildcats, don't you agree? Okay, maybe not. But, for me, it was exciting stuff! And, it looks like The Gator Nation has a new rock star with freshman Trey Burton: 6 touchdowns (a school record). Next week is the big test as they take on #1 Alabama!
That's it for this week.
Be very well and...
Keep living large!
Clay
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