At the Close. A very unusual Tuesday...

18:01CET

It's not that I don't like it (I just love it), it's that I was not expecting it to happen on a Tuesday! Big USD rally today, hitting all imaginable stops in all majors and Gold, and trapping many shorts wrong-footed (it was time!). The Euro has printed a 1.3495 low vs the USD, Cable almost diving to 1.5840, AUD 0.9720 and Gold is very near a neckline 2 1,315 of a tremendous SHS formation that would definitely mark more gains for the USD in the mid-term. There is little to add to this, i.e, buy USD on dips and believe the trend has changed for good in the mid-term, preferably playing the GBP as the vehicle to do so (and AUD above 0.98) rather than the very much oversold now EUR/USD.

Before leaving, here's how retail traders are positioning themselves at this hour, I still find amazing that so many are making money with this latest EUR dive! I'm Tony Juste, thanks for watching this blog, look forward to your company tomorrow.

Nov 16, 2010 18:00 GMT+0100

   1. USD/JPY
      78.17% 21.83%
   2. XAU/USD
      72.35% 27.65%
   3. USD/CHF
      71.20% 28.80%
   4. USD/CAD
      61.80% 38.20%
   5. AUD/USD
      50.47% 49.53%
   6. EUR/USD
      50.07% 49.93%
   7. GBP/USD
      45.75% 54.25%

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