Publié par : investorseuropegi | novembre 30, 2010

At the Close. Big volatility to end the month….and more to come.

18:19CET

Well, it’s all about selling the EUR to the catacombs these days and today it was no exception. The only difference was that, instead of direct EUR/USD selling, we had EUR selling through the crosses, and particularly (and this is definitely not technically welcome), through a huge EUR/CHF sell-off, from 1.3130 to 1.2930 in just a session, reminding us that this once so-called lethargic pair is the king of volatility at present and a driving force in the markets.

Nothing big to add from the technical point of view, I would repeat the extreme OS status of the single currency, but then you would label me as a broken record and I would not like that. Interesting to see whether the USD/JPY sell-off is a one-day event or a more sustained situation, but anyway in the mid 83’s I think it’s pretty good to buy the pair. Also, keep a big eye on USD/CHF, as the unit pretends to regain parity, and a move above 1.0020 would mean the break of the short-term resistance line off the recent highs.

Before calling it a day, here’s how retail traders are positioning themselves in the market, I still am amazed at EUR and GBP ratios (USD/CHF and USD/JPY are an X-file these weeks, too). I’m Tony Juste, thanks for watching my bit of space on the internet, supported and presented by www.investors-europe.com.

Nov 30, 2010 18:20 GMT+0100

   1. USD/JPY
      76.38% 23.62%
   2. XAU/USD
      68.95% 31.05%
   3. USD/CHF
      67.30% 32.70%
   4. USD/CAD
      57.24% 42.76%
   5. AUD/USD
      51.79% 48.21%
   6. EUR/USD
      48.02% 51.98%
   7. GBP/USD
      47.64% 52.36%

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