Squeeze new week begins with the same old news. The EUR moves back and forth in the same trading range as traders and analysts await the time when Spain will finally ask for a sovereign bailout. This causes erratic moves in the currency, when there is the slightest rumor that some news is imminent. That forex happened this morning at the London opening as the EUR jumped from the 1. On a day forex little data releases due, the markets will make moves like this. There are no economic data releases scheduled today from the Forex and in the US, we will see retail sales release and the NY Empire State manufacturing index. The consensus on these releases is a slight drop in retail sales and an improvement in the manufacturing index. The latest jump in the currency has been linked to some short squeezing after the currency could move no lower than the 1. There are reported sell orders above the 1. As far as Spain is concerned, now observers are looking towards November as the possible time when the country will formally request a bailout. According to the Spanish Finance Minister, there is no hurry to seek a bailout since feelings have turned more optimistic towards Spain than they were a few months ago. While it is obvious there will be a bailout request the market will continue to stop and start on any news out of Spain. In other currency news, the AUD stayed under pressure despite the fact that the Chinese government released stronger trade surplus data, with the report showing the surplus increased to USD The consensus was for a surplus of USD Analysts are concerned that this number could be a one-time pop. The EU Summit meeting takes place later this week on Thursday and Friday, but the markets are not expecting any major news items to come from this. There are some regional elections in Spain this week from the provinces of Basque and Galiciabut these are also expected to go off without a hitch. There was a report that come out through the Reuters news agency over the weekend that stated according to EU officials, the Spanish aid request will be put together witha revised Greek loan program, along with one for Cyprus. According to the report, bundling the three bailouts is a preferred plan as it will eliminate multiple national parliamentary debates and speed the process. According to the CFTC, EUR net shorts rose again to GBP longs were lower during the week and JPY contracts were unchanged. The feelings on AUD were drastically changed as long contracts fell to CAD longs also were slightly lower. Lately, it seems as though the opening of the North American trading session brings the EUR higher. If that is the case this morning, we could test the upper boundaries of 1. Failure to break there would keep the EUR within its 1. Matthew Lifson is a Squeeze Exchange Trader and a Market Analyst. Muted reaction from AUDUSD perhaps due to comments from chinese officials that said this improvement on exports mainly due seasonal factors Christmas than structural. Forex Crunch is a site all about the foreign exchange market, which consists of news, opinions, daily and weekly forex analysis, technical analysis, tutorials, basics of the forex market, forex software posts, insights about the forex industry and whatever is related to Forex. Foreign exchange Forex trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk forex and the trader's level of experience should be carefully weighed before entering the Forex market. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish the content originating on Forex Crunch reflect the opinions of the individual squeeze and do not necessarily represent the opinions of any of Forex Crunch's authorized authors. Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. Any news, analysis, opinion, price quote or any other information contained on Forex Crunch and permitted re-published content should be taken as general market commentary. This is by no means investment advice. Forex Crunch will not accept liability for any damage, loss, including without limitation to, any profit or loss, which may either arise directly or indirectly from use of such information. Mind The Divergence — Where To Target? 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London Open Forex Trade 271112. SM Squeeze Indicator. How To Make Money Trading Forex
London Open Forex Trade 271112. SM Squeeze Indicator. How To Make Money Trading Forex
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