At the Close. Too much noise for nothing...

18:04CET

It was a 'busy' day so to speak with markets flirting with a negative start of the week for the USD, then shifting to a very positive day for the greenback, and finishing the European session in a mixed tone, leaving the uncertainty running further down the road in this eventful week. Technically speaking, the Euro failure to climb back above the first Fibo fan @ 1.40 (broken 3 days ago), is a good sign for the USD, who should attempt the second fan line, situated @ 1.3775 (rising by 10 pips every day). That would also help the greenback vs the AUD and GBP, but there's no need for that help vs the CHF, where we had a very good rise towards 0.9970, before finding itself in extreme OB territory (as reported earlier) and falling back. The situation is not bad for the USD, especially with Gold now below or around 1,350 from 1,365 in the morning, and I stand corrected as it looks like the H&S pattern in the 4hr chart might not be over after all. If that were to be the case, the neckline comes in @ 1,320, and why not? we may still believe in a monster-USD rally ahead.

I finish my posting for today with the usual FX retail-losers positioning, where we see EUR longs above 40% and a bit of a push further down in the pair would definitely shift momentum in the pair, further supporting a mid-term rise in the USD...We will remain vigilant throughout the week.

I'm Tony Juste, thanks for watching this blog. Do not forget to stay tuned to real-time market tips @ www.twitter.com/ctainvestor and trade with best option offshore @ www.investors-europe.com

Nov 1, 2010 18:00 GMT+0100
READING %LONG/%SHORT

   1. AUD/USD
      43.69% 56.31%
   2. EUR/CHF
      56.14% 43.86%
   3. EUR/GBP
      44.26% 55.74%
   4. EUR/JPY
      59.93% 40.07%
   5. EUR/USD
      42.84% 57.16%
   6. GBP/JPY
      66.33% 33.67%
   7. GBP/USD
      34.12% 65.88%
   8. USD/CAD
      60.94% 39.06%
   9. USD/CHF
      74.83% 25.17%
  10. USD/JPY
      83.42% 16.58%

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