"A resolution to Greek debt negotiations may reduce downside risks, but a weak currency is needed to underpin the recovery...If anything, the risks to monetary policy are for additional QE as the current ECB forecasts are based on a full implementation of the existing program," ANZ argues.
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2015.06.28 21:25
COT report by Scotiabank: Takeaways On USD, EUR, AUD, & Other Majors (based on efxnews article)
EUR sentiment deteriorated for the first week in four, the net short widening $1.3bn to $13.9bn. Its w/w shift was the result of a paring back in both long and short positions, highlighting a broader trend of withdrawal in traders’ participation as a result of elevated uncertainty and the binary nature of Greek risk.
Investors pared back JPY risk in a manner similar to that observed in EUR, albeit to a greater degree with a $2.7bn decline in gross longs and $2.0bn decline in gross shorts. The pattern suggests that traders await a greater degree of certainty in the face of binary Greek risk.
CAD sentiment has deteriorated for the third week in four,
the net short widening $0.4bn to $1.4bn on the back of a decline in
gross longs—falling to their lowest levels since June 2013.
AUD sentiment is also bearish, albeit modestly so
with a net short at $0.7bn. Investors in appear cautious in adding to
risk in either CAD or AUD, waiting for a breakout of their relatively
narrow ranges.
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2015.06.29 07:17
Forex technical analysis: EURUSD gaps. What is the trading strategy? (based on forexlive article)
'Looking at the daily chart below, the price has been able to extend
below the 50% of the move up from the March low at 1.04617 to the high
from May at 1.14658. That level comes in at 1.09638. This remains a key
level to get below - and satay below if the bears are to extend the
range further.'
