Well.. doesnt need much explenation
still we are all trying to work out the implications of FED/ECB relationship and their monetary policy but one thing seems like the USD is not giving up!
making terrain across the majors today after the announcement could still TOO EARLY to call it and I am SOO! looking forward to hear from the CTF report next to see how orders and contracts performed over the FED announcement week but seems like USD long order owners dont really want to give up upon their positions yet.
we havent really seen any new positionament in the USDx so I guess this is because they still digesting and wondering what to do.
the LONG term picture still bearish bias as I am not expecting a break over 1,12 anytime soon after we retested the 1,1011-60 area over the past few days and it was empty of bids around there...
still we could see a reversal... either because ECB becomes more hawkish (sudently) or because USD long positions get trimmed off and some earnings are taken before Xmas.
too soon to call it but it will deffinetly be interesting!
still we are all trying to work out the implications of FED/ECB relationship and their monetary policy but one thing seems like the USD is not giving up!
making terrain across the majors today after the announcement could still TOO EARLY to call it and I am SOO! looking forward to hear from the CTF report next to see how orders and contracts performed over the FED announcement week but seems like USD long order owners dont really want to give up upon their positions yet.
we havent really seen any new positionament in the USDx so I guess this is because they still digesting and wondering what to do.
the LONG term picture still bearish bias as I am not expecting a break over 1,12 anytime soon after we retested the 1,1011-60 area over the past few days and it was empty of bids around there...
still we could see a reversal... either because ECB becomes more hawkish (sudently) or because USD long positions get trimmed off and some earnings are taken before Xmas.
too soon to call it but it will deffinetly be interesting!