Most of the days when US data is released the traders tend to get confused - whether to follow risk appetite move for a USD +ve data or USD gaining move and if the data is -ve to USD, whether to follow risk aversion or USD weakening move.So a survey of traders confidence could help them to trade or they mostly miss the good trading opportunities because of false moves of the players.But following false move of the players could be more beneficial rather than to expected either of the moves - usd weakening or strengthening moves and keep away from the market.
Players are still handling the European and YEN crosses and inducing the traders to make distress short covering in EURO/GBP and long liquidation in YEN crosses.Similarly in denominator currencies they are holding low and induce any level buying to liquidate their longs.
Regards
Dr.Sivaraman
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