I think we're getting pretty close to fair value for UJ now. But I can't resist another short. I don't have any great conviction for this trade but there are some technical and fundamental inklings which contribute to the trade idea.
- COT Positioning remains very long USD
- Today's unwillingness to break 111 during a hot USD buying session
- Lots of resistance above (daily moving averages, the formidable 110.8 S/R level)
I want to add also, if we get stopped out, a long might not be a bad idea.
- COT Positioning remains very long USD
- Today's unwillingness to break 111 during a hot USD buying session
- Lots of resistance above (daily moving averages, the formidable 110.8 S/R level)
I want to add also, if we get stopped out, a long might not be a bad idea.