18:14CET
Well, it's not that I will say it's been a disappointing day....but a very disappointing day indeed. Not because of the lack of progress by the USD... one may expect that, particularly when watching at USD/CHF and USD/JPY retail positioning, but not in Euro or AUD, where we were seeing some big momentum shift, even change to net long in AUD/USD, which has not served the cause of a better move by the USD, rather the contrary. I don't like excuses and hate when someone blames this or that for what is happening, I just can't stand that. Today it was a USD-selling day. Period. But technically speaking, and even from a contrarian point of view, it was not a justified move, but that's what the market is, a big box of surprises. Technically, again, anything in the mid 1.59s is a good short in Cable, anything in the 0.98s is good short in the AUD and anything above 1.39 bodes well for a short in Euro. Whether they will turn out to be monster trades, I honestly have a bit more reserves than in the morning, when I saw the H&S in AUD and Gold printing to perfection, and ready to make the units tank...but now with Gold @ 1,343, testing a key dynamic resistance line, it's kind of a moot point to go over my 'pattern predictions' again. However, if Gold does not break 1,345-50 we may still have a cause for a better USD move....that would be lovely. Before leaving, here's how retailers are positioning themselves at this hour (I hate to see the AUD back to net short....). Oct 28, 2010 18:00 GMT+0200READING: %LONG // %SHORT 1. AUD/USD
49.92% 50.08%
2. EUR/CHF
57.40% 42.60%
3. EUR/GBP
53.32% 46.68%
4. EUR/JPY
54.76% 45.24%
5. EUR/USD
43.63% 56.37%
6. GBP/JPY
60.74% 39.26%
7. GBP/USD
34.82% 65.18%
8. USD/CAD
60.25% 39.75%
9. USD/CHF
73.11% 26.89%
10. USD/JPY
80.14% 19.86% I'm Tony Juste, thanks for watching this blog. I look forward to your company tomorrow. Real-time alerts @ www.twitter.com/ctainvestor.
Posted via email from MT4
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