At the Close. USD selling continues.

18:18CET

The selling of the USD continues at good speed and the Euro got close to 1.35 today amid global EUR buying across the board. USD/CHF and EUR/CHF are also good indicators of the situation, i.e., that the CHF acting as a safe-haven currency is working at the moment and is gaining ground virtually against every other currency.

Technically speaking, and despite the adverse outlook for the time being, I would stick to the tactics of buying the USD on reasonable dips, but having said that, any USD rally can be also shorted out as prices do not seem to cooperate much with the greenback at the moment. EUR/USD longs from 1.3380 or shorts from 1.3450-60 look like a good range strategy to me.

Before leaving, here's how retail traders are long/short on majors at this hour.Thanks for being there, I look forward to seeing you all again tomorrow or on twitter.com/ctainvestor for real-time tips. Brought to you by offshore firm ivestors-europe.com.
Dec 14, 2010 18:00 GMT+0100

   1. USD/JPY
      74.59% 25.41%
   2. USD/CHF
      72.77% 27.23%
   3. XAU/USD
      70.18% 29.82%
   4. USD/CAD
      69.03% 30.97%
   5. GBP/USD
      50.59% 49.41%
   6. EUR/USD
      48.33% 51.67%
   7. AUD/USD
      43.56% 56.44%

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