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Was just wondering if any of you currency experts might like to comment on the following.
In the enclosed DX (US Dollar), EC (Euro), & CD (Canadian Dollar) COT charts which I got from this weeks free Software North COT report, http://www.softwarenorth.com/trading/
the implication seems to be that the commercials are quite long (and getting longer) the US Dollar, short (and getting shorter) the Canadian Dollar and the Euro. Yet the US Dollar's march south seems only occasionally interrupted, and just yesterday, the Canadian Dollar broke out of a measured move above its recent range. The Euro too does not seem to be bearing out this prediction. Am I reading this incorrectly?
Of course, I know the commercials are often way ahead of the moves in the market that bear out their predictions that the COT provides, yet these charts seem so out of sync to me, that I expect some other explanation is more relevant.
Earl, others, any thoughts?
Thanks.
Eliot
Eliot Kaplan
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Description: "http://www.isu.com"
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Description: "eliot@xxxxxxx"
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Description: "ISU, Inc."
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