Note-This is indicating my short on the USD/CAD not the EUR/USD
See also Commitment of traders report, in prior blog.
As Danske Bank USD/CAD stands:
Danske Bank Technical Update
Thursday 23 July - 07.00 CET
USD /CAD - Buy at 1.2991 for 1.316 STOP AT 1.2905
Minor Upwards trend
Moving Averages
200 Day - 1.2700
500 Day 1.2469
2000 Day 1.2121
RSI Strength
78.13
SPOT 1.3037
Support
Line 4 1.2718
Line 3 1.2779
Line 2 1.2835
Line 1 1.1.2905
Resistance
Line 4 1.3065
Line 3 1.3088
Line 2 1.3012
Line 1 1.3166
DAX Futures - Look to buy lower
End of Report
-----------------
For contrarian traders, this presents an opportunity when take profits are triggered. Refer to also, commitment of traders reports, you will notice that Dealer Intermediaries are 63000 Contratcs Short on the Canadian Dollar and 1300 Long on the Canadian Dollar. Assest Managers and institutional traders are Double Long over Shorts. Leveraged fun managers are almost even with longs slightly up as of July 23rd Thursday.
Also refer to Street FX Positioning reports.
www.fxstreet.com/ana...s/trading-positions/
Please see link. For all beginner and amateur trades, this is a very useful tool for following the major players, being institutional traders, who move markets before us retail traders. Also look for what is known as the Flip, this is where Institutional traders will start taking profits from previously entered positions. This will be the beginning sign a correction from a recent trend.
See also Commitment of traders report, in prior blog.
As Danske Bank USD/CAD stands:
Danske Bank Technical Update
Thursday 23 July - 07.00 CET
USD /CAD - Buy at 1.2991 for 1.316 STOP AT 1.2905
Minor Upwards trend
Moving Averages
200 Day - 1.2700
500 Day 1.2469
2000 Day 1.2121
RSI Strength
78.13
SPOT 1.3037
Support
Line 4 1.2718
Line 3 1.2779
Line 2 1.2835
Line 1 1.1.2905
Resistance
Line 4 1.3065
Line 3 1.3088
Line 2 1.3012
Line 1 1.3166
DAX Futures - Look to buy lower
End of Report
-----------------
For contrarian traders, this presents an opportunity when take profits are triggered. Refer to also, commitment of traders reports, you will notice that Dealer Intermediaries are 63000 Contratcs Short on the Canadian Dollar and 1300 Long on the Canadian Dollar. Assest Managers and institutional traders are Double Long over Shorts. Leveraged fun managers are almost even with longs slightly up as of July 23rd Thursday.
Also refer to Street FX Positioning reports.
www.fxstreet.com/ana...s/trading-positions/
Please see link. For all beginner and amateur trades, this is a very useful tool for following the major players, being institutional traders, who move markets before us retail traders. Also look for what is known as the Flip, this is where Institutional traders will start taking profits from previously entered positions. This will be the beginning sign a correction from a recent trend.