COMMERCIALS GIVE UP ON THEIR LONGS ON THIS PAIR WE HAVE SEEN THE PAIR RE-TESTING THE SAME RESISTANCE TOO MANY TIMES IN THE PAST WEEK. WILL THIS BE A TURNING POINT FOR THE PAIR HAS WEE SEE IT TRYING TO BREAK THE TREND LINE......DOWNSIDE PRESSURE IS EMINENT
BRITISH POUND SHORT EVEN THOUGH COMMERCIALS ARE NET LONG WE EXPECT SOME SHORT POSITIONS TO BE ADDED THIS WEEK AND MORE LONG POSITIONS TO BE REMOVED HAS SEEN IN THE STOP HUNT CREATED ON THURSDAY
South African rand to resume uptrend has open interest declined in the South African rand futures market as of last week cot data report we might see higher prices in the SouthAfrican rand this quarter we have seen a good correction close to the trend line hence we expect the price to stay above 15.05 with a target around 15.40 to 15-50 area.
Downside pressure increase has silver hits the trend line downside pressure is expected as commercials hold 147,138 NET SHORT position compared to 73,357 long positions.
Even though we saw a reduction in short positions by 2,848 contracts the down trend is still likely to continue up to the support level 16,70-16,50 area this quarter.
Last week we saw the the commercials added 8,401 contracts short and reduced about 2551 long positions Change leaving them with total Open Interest of 199,268.the net change in open interest is +11,330 hence we have seen the USDMXN lower this week with 3 consecutive down
consecutive down closes pushing it to the support level 19.40-19-50 area THE MAIN scenario...
Uptrend expected in the Aussie pair after having testes the support level 3 times ...this is likely to continue till November the odds a high for a high probability swing....
Last week we saw the commercials add about 27,323 shorts contracts against the 577 long contracts and a total open interest of 27,954 this might put a huge pressure on gold for a correction to the 1440 to 1450 area this month,How ever NFP Might be a major catalyst this Friday,selling gold has high has possible a good opportunity for a swing,anything below the...
