Action recap at this hour

12:30CET

I don't really have much to add at this point as the market is almost not moving, except for GBP/USD, where we've seen the dynamic support @ 1.6045 play its role and catapult prices higher...other than that, a very odorless trading day so far.

Technically speaking, buying EUR/USD here around 1.3615-20, with stop below 1.3580 and a 1.3660-70 target may work for some pips, as there is some real buying interest around the 1.36 figure, which may mean the EUR/USD decline to be halted for now. Below you'll find the recent retail positioning, where we find that EUR/USD traders are actually short the pair despite the 600-pip drop, something's fishy...

Nov 15, 2010 12:20 GMT+0100

   1. USD/JPY
      77.79% 22.21%
   2. USD/CHF
      72.75% 27.25%
   3. XAU/USD
      72.58% 27.42%
   4. USD/CAD
      68.40% 31.60%
   5. AUD/USD
      50.83% 49.17%
   6. EUR/USD
      48.60% 51.40%
   7. GBP/USD
      41.80% 58.20%

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