DailyFX Speculative Index Update for June 6th 2011
SSI Details:
EURUSD - The ratio of long to short positions in the EURUSD stands at 1.05 as nearly 51% of traders are long. Yesterday, the ratio was at -1.09 as 52% of open positions were short. In detail, long positions are 4.1% higher than yesterday and 2.2% weaker since last week. Short positions are 8.7% lower than yesterday and 22.1% weaker since last week. Open interest is 2.5% weaker than yesterday and 10.7% below its monthly average. The SSI is a contrarian indicator and signals more EURUSD losses.
GBPUSD - The ratio of long to short positions in the GBPUSD stands at 1.56 as nearly 61% of traders are long. Yesterday, the ratio was at 2.15 as 68% of open positions were long. In detail, long positions are 2.7% lower than yesterday and 6.6% weaker since last week. Short positions are 34.3% higher than yesterday and 30.0% stronger since last week. Open interest is 9.0% stronger than yesterday and 13.7% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.
GBPJPY - The ratio of long to short positions in the GBPJPY stands at 2.37 as nearly 70% of traders are long. Yesterday, the ratio was at 2.73 as 73% of open positions were long. In detail, long positions are 1.7% higher than yesterday and 7.2% weaker since last week. Short positions are 17.2% higher than yesterday and 10.6% stronger since last week. Open interest is 5.8% stronger than yesterday and 2.9% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY losses.
USDJPY - The ratio of long to short positions in the USDJPY stands at 5.50 as nearly 85% of traders are long. Yesterday, the ratio was at 5.33 as 84% of open positions were long. In detail, long positions are 2.6% higher than yesterday and 23.5% weaker since last week. Short positions are 0.7% lower than yesterday and 16.2% stronger since last week. Open interest is 2.1% stronger than yesterday and 12.9% below its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.
USDCHF - The ratio of long to short positions in the USDCHF stands at -1.45 as nearly 59% of traders are short. Yesterday, the ratio was at -1.41 as 59% of open positions were short. In detail, long positions are 13.0% lower than yesterday and 20.6% weaker since last week. Short positions are 10.7% lower than yesterday and 8.8% weaker since last week. Open interest is 11.6% weaker than yesterday and 23.9% below its monthly average. The SSI is a contrarian indicator and signals more USDCHF gains.
USDCAD - The ratio of long to short positions in the USDCAD stands at -1.42 as nearly 59% of traders are short. Yesterday, the ratio was at -1.60 as 62% of open positions were short. In detail, long positions are 6.9% higher than yesterday and 5.8% stronger since last week. Short positions are 5.3% lower than yesterday and 30.7% weaker since last week. Open interest is 0.6% weaker than yesterday and 17.6% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD gains.
AUDUSD - The ratio of long to short positions in the AUDUSD stands at 1.97 as nearly 66% of traders are long. Yesterday, the ratio was at 2.26 as 69% of open positions were long. In detail, long positions are 12.1% higher than yesterday and 8.3% weaker since last week. Short positions are 29.1% higher than yesterday and 11.3% stronger since last week. Open interest is 17.3% stronger than yesterday and 8.5% below its monthly average. The SSI is a contrarian indicator and signals more AUDUSD losses.
NZDUSD - The ratio of long to short positions in the NZDUSD stands at 2.57 as nearly 72% of traders are long. Yesterday, the ratio was at 2.99 as 75% of open positions were long. In detail, long positions are 6.0% lower than yesterday and 22.3% weaker since last week. Short positions are 9.2% higher than yesterday and 5.6% weaker since last week. Open interest is 2.2% weaker than yesterday and 14.5% below its monthly average. The SSI is a contrarian indicator and signals more NZDUSD losses.
Discuss trading strategies with the SSI and other sentiment readings in the DailyFX forum!
*No warranties or guarantees are made with respect to the content contained herein. The website and the guests on this site do not take into account the investment objectives, financial situation or particular needs of any particular person. The advice and trading ideas provided on this website are for informational purposes only and are not intended as a trading ideas. Under no circumstances does any advice or trading idea contained herein constitute a solicitation to buy and sell currencies. We do not endorse and cannot vouch for any of the guest traders on this site.
Trader, Gregory McLeod moderates the DailyFX Forum.
If you are a new user to the DailyFX Forum, or not sure where to get started, please go to: How To use the DailyFX Forum and Introduce Yourself! Section. I’ll introduce you to the community and point you in the right direction.
Please use the “Ask the expert” section to ask me trading questions or reply to me in this thread.
Webinar: Watch me Trade Live Tuesday, Wednesday, and Thursday at 5:30 ET/9:30 GMT inPip & Run Trading Room.
Economic Indicators of High Importance for Week of 6/10/2012
Hello Traders!
Along with seemingly daily announcements out of some part of the Euro Zone in relation to the financial crisis, traders have to also remember to keep an eye on the economic calendar to manage risk and volatility.
US session news is light today so we get a little break.
Happy trading!
Greg McLeod
DailyFX Forum Moderator/Trader
Trader, Gregory McLeod moderates the DailyFX Forum.
If you are a new user to the DailyFX Forum, or not sure where to get started, please go to: How To use the DailyFX Forum and Introduce Yourself! Section. I’ll introduce you to the community and point you in the right direction.
Please use the “Ask the expert” section to ask me trading questions or reply to me in this thread.
Webinar: Watch me Trade Live Tuesday, Wednesday, and Thursday at 5:30 ET/9:30 GMT inPip & Run Trading Room.
London session review and outlook June 11 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.
Well, my last trade was stopped out for a bigger loss than i should have allowed. Priced open at nearly an 80 pip gap or something like that. My NZD/JPY short was absolutely blown out of the water. Now price is deciding, or rather not deciding which channel to stick in. The volatility with news risk this week makes me want to pull some hair out. Luckly I traded the gap back down with target right at open. I hit but would have benefited a n open target as price has come down nicely.
I'm trading some small short scalps but am very uneasy about forming any bias long or short long term becuase I tend to trade my bias heavily. After this weekend coming up will give some clearer direction. Scalping 5 or 15minute charts or sidelined is my play this week.
No daily hold positions. Good luck trading friends.
Well, my last trade was stopped out for a bigger loss than i should have allowed. Priced open at nearly an 80 pip gap or something like that. My NZD/JPY short was absolutely blown out of the water. Now price is deciding, or rather not deciding which channel to stick in. The volatility with news risk this week makes me want to pull some hair out. Luckly I traded the gap back down with target right at open. I hit but would have benefited a n open target as price has come down nicely.
I'm trading some small short scalps but am very uneasy about forming any bias long or short long term becuase I tend to trade my bias heavily. After this weekend coming up will give some clearer direction. Scalping 5 or 15minute charts or sidelined is my play this week.
No daily hold positions. Good luck trading friends.
You have the right idea on the direction to trade the pair...look for shorting opportunities.
The NZD is weaker than the JPY and we have negative SSD divergence on the 4 hour chart below. Rather than just jumping in short right now, checking the 1 hour chart, I might wait for a pullback of 30 pips or so above where the pair is trading now and place an entry order to short the pair at that point. Limit would be set around 60.40...
Enroll in our online DailyFX Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in our online courses in the past. The new DailyFX Course has nearly 600 minutes of content delivered via video so you can learn at your own pace. Join the instructors in live webinars where they will show you how to use the highlighted tool in current market conditions. Click here to get more information.
It seems that JPY pair are heading for one new low. For example NOKJPY misses one more wave in order to complete a 5 wave structure. This is not that evident on other pairs, but result will likely be the same. One new low will create the needed MACD divergence that is necessary for pairs to signal exhaustion. My strategy - buy on new lows
You have the right idea on the direction to trade the pair...look for shorting opportunities.
The NZD is weaker than the JPY and we have negative SSD divergence on the 4 hour chart below. Rather than just jumping in short right now, checking the 1 hour chart, I might wait for a pullback of 30 pips or so above where the pair is trading now and place an entry order to short the pair at that point. Limit would be set around 60.40...
You have the right idea on the direction to trade the pair...look for shorting opportunities.
The NZD is weaker than the JPY and we have negative SSD divergence on the 4 hour chart below. Rather than just jumping in short right now, checking the 1 hour chart, I might wait for a pullback of 30 pips or so above where the pair is trading now and place an entry order to short the pair at that point. Limit would be set around 60.40...
Richard I have watched your webinar on DCs. I noticed them on your chart. Where was it that you said we could pick up that indicator because it isn't available on Marketscope? thanks.
Hourly candle is about to close with a nice long wick. I would like to ride this down to S1...
Price it appears to have found a channel it wants to stick to. I have drawn new channel lines on a 1Hour chart but added the notes on a 2Hour chart.
Basic trades the long wick is a decent price rejection and hopefully price moves down to the bottom of the channel. So we go short off the top of the channel, (on failed breaks especially)
and long off the bottom. Tight stops, max risk vs. reward. Until the pattern breaks. Wish me lucks.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
English
Español
Français
中文
Deutsch
Italiano
العربية
Sverige
Ελληνικά
Originally Posted by root-minus
Posting Permissions 
Headed South?
My Favorite Trade Setups
