You would think for sure the Kiwi is going to correct at resistance , and I am waiting for this.
Take a look at last weeks COT data :
Open interest > 50 K
Net Non commercials skyrocketed to 21 455 !!!!
The last time a figure was that high was on May 14th 2013 and Kiwi was trading at .8400.
So the smart money are long into Kiwi big time. Makes me think more !!!!!!
In a world of diminishing yield , the Kiwi is an attractive bird.
Comments
smifflar
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you really seem to think that this will fly to the upside from these levels before a pullback??? travelled from 6825 to current levels with no pullbacks??? really?
salsapete
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@smifflar, No I am waiting to short this pair when it meets my trade setup.... The COT data suggests otherwise....
smifflar
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@salsapete, I think this next week coming will start to see some bears come into play after one more push higher. good signs that we closed below the 7300 level too!!
salsapete
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@smifflar, I want to see a daily break of .7200 , maybe then......:)
vinfooyc
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yes!
Melchizedek
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Any word on the German Cuckoo bird? I'm a hearin some terrible news out of there lately!
salsapete
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@Melchizedek, LOL... that bird was cooked a long time ago..... :)