- Overnight Interest Rate Update 02.09.10 Tue, 09 Feb 2010 05:24 GMT
- RICS Survey Hints UK House Prices May Decline as Supply Swells Tue, 09 Feb 2010 04:41 GMT
- UK Retail Sales Growth Worst in 15 Years in January, says BRC Tue, 09 Feb 2010 02:19 GMT
| LastWeek | Present | %Long | Change: Open Interest | Signals | Chart Links | |
| EUR/USD | 1.67 | 1.83 | 65.0% | 10.5% | bearish | View Chart Now |
| GBP/USD | 1.11 | 2.27 | 69.0% | 8.3% | bearish | View Chart Now |
| USD/JPY | 1.98 | 1.97 | 66.0% | 9.5% | bearish | View Chart Now |
| USD/CHF | -1.13 | -1.01 | 50.0% | -5.9% | bullish | View Chart Now |
| USD/CAD | -1.21 | -1.11 | 47.0% | 3.6% | bullish | View Chart Now |
| GBP/JPY | 1.47 | 2.66 | 73.0% | 27.9% | bearish | View Chart Now |
The SSI is reported Every Thursday at DailyFX.com and twice every trading day inside DailyFX PLUS.
In 2006 and 2007, the SSI signalled a EUR/USD rally from 1.26 until signalling a reversal near 1.60.
Found out more in the DailyFX Forum.
Euro Forecast to Depreciate vs US Dollar
EURUSD – The ratio of long to short positions in the EURUSD stands at 1.83 as nearly 65% of traders are long. Yesterday, the ratio was at 1.55 as 61% of open positions were long. In detail, long positions are 3.5% higher than yesterday and 14.5% stronger since last week. Short positions are 12.2% lower than yesterday and 4.1% stronger since last week. Open interest is 2.6% weaker than yesterday and 8.6% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD losses.
British Pound Outlook Strongly Bearish
GBPUSD – The ratio of long to short positions in the GBPUSD stands at 2.30 as nearly 70% of traders are long. Yesterday, the ratio was at 1.98 as 66% of open positions were long. In detail, long positions are 0.7% higher than yesterday and 43.2% stronger since last week. Short positions are 13.4% lower than yesterday and 31.1% weaker since last week. Open interest is 4.1% weaker than yesterday and 1.6% above its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.
Japanese Yen Trading Higher against US Dollar
USDJPY – The ratio of long to short positions in the USDJPY stands at 1.98 as nearly 66% of traders are long. Yesterday, the ratio was at 1.40 as 58% of open positions were long. In detail, long positions are 16.0% higher than yesterday and 9.4% stronger since last week. Short positions are 17.9% lower than yesterday and 9.4% stronger since last week. Open interest is 1.8% stronger than yesterday and 13.1% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.
Swiss Franc Forecast to Depreciate vs. USD
USDCHF – The ratio of long to short positions in the USDCHF stands at -1.01 as nearly 50% of traders are short. Yesterday, the ratio was at -1.07 as 52% of open positions were short. In detail, long positions are 1.6% lower than yesterday and 0.3% weaker since last week. Short positions are 6.8% lower than yesterday and 10.7% weaker since last week. Open interest is 4.3% weaker than yesterday and 4.9% below its monthly average. The SSI is a contrarian indicator and signals more USDCHF gains.
Canadian Dollar Likely to Weaken Further Against USD
USDCAD – The ratio of long to short positions in the USDCAD stands at -1.11 as nearly 53% of traders are short. Yesterday, the ratio was at -1.00 as 50% of open positions were short. In detail, long positions are 10.5% lower than yesterday and 8.0% stronger since last week. Short positions are 0.9% lower than yesterday and 0.4% weaker since last week. Open interest is 5.7% weaker than yesterday and 6.8% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD gains.
British Pound Forecast Very Bearish versus Japanese Yen
GBPJPY – The ratio of long to short positions in the GBPJPY stands at 2.67 as nearly 73% of traders are long. Yesterday, the ratio was at 1.35 as 57% of open positions were long. In detail, long positions are 35.0% higher than yesterday and 56.7% stronger since last week. Short positions are 31.7% lower than yesterday and 14.0% weaker since last week. Open interest is 6.6% stronger than yesterday and 17.9% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY losses.
Weekly Overview
Technicals
US Dollar Forecast to Rally Further against Euro, British Pound
Aggressive US Dollar and Japanese Yen rallies have been met with similarly aggressive crowd selling, giving strong contrarian signal to buy into USD and JPY strength. In fact, the number of traders long the British Pound against the Japanese Yen grew a substantial 56 percent while the crowd long the GBP/USD grew by a similar 43 percent from last week. Though persistent strength increases the likelihood of short-term pullbacks, the tide has clearly turned in the previously-downtrodden US Dollar’s favor and it is likely to continue higher into the coming months’ trade. Shorter-term, our SSI suggests that traders should buy declines in the US currency.
-
Today at 02:12
-
Today at 02:00
-
Today at 02:00
-
Today at 01:57
