EURUSD – The ratio of long to short positions in the EURUSD stands at 1.69 as nearly 63% of traders are long. Yesterday, the ratio was at 1.62 as 62% of open positions were long. In detail, long positions are 1.1% higher than yesterday and 9.0% stronger since last week. Short positions are 2.9% lower than yesterday and 19.8% weaker…read more →
THE TAKEAWAY: Fitch cuts Greece’s LT debt ratings to CCC Rating action reflects elections, heightened risk of Euro exit EUR lower Fitch cut Greece’s long-term debt ratings to CCC from B- on Thursday, pushing the Euro below 1.2720 versus the US Dollar. Chart generated using FXCM Strategy Trader. Bar denotes release of rating decision. In its statement, the agency cited…read more →
Although the Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) remains 0.24 percent lower from the open, we’re maintaining our bullish outlook for the greenback as it maintains the upward trending channel from earlier this month. As the 30-minute relative strength index holds above oversold territory, we should see the index consolidate going into the end of the week, and the…read more →
THE TAKEAWAY: Moody’s downgrades 16 Spanish banks Announcement highlights scale of Spanish banking-sector troubles, but widely expected EUR consolidates at low level In a widely anticipated announcement, Moody’s announced on Thursday the downgrade of 16 Spanish banks – including the country’s largest lenders Banco Santander and BBVA – as well as Santander’s UK-based subsidiary. The move – coming after the…read more →
GBP/USD:The latest daily close below 1.6050 now opens the door for an acceleration of declines over the coming days back down towards next key support in the 1.5800′s. At this point, look for any intraday rallies to be very well capped ahead of 1.6200, while only back above 1.6300 would negate outlook and give reason for pause. — Written by…read more →
