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Trade Against The Retail Herd 10th Mar
What's new today?
We're sitting pretty neutral across most pairs at the moment, the pair most likely to see a shift in retail positioning today is GBPUSD with Manufacturing Production released at 4:30 EST and the BOE interest rate decision coming out at 7am EST.
Click image to enlarge
Provided by Pivotfarm via the Technical Analysis blog
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I don't agree with FXCM's SSI reports as I don't think it only reports retail, it reports their clients in general. Some big banks are now using brokers to conceal the names behind their trades, which means market makers could possibly be included in this data.
They may be ready to let this thing go. We'll see.
Take a small position EURJPY short to 113.02 and cross your fingers that you don't get whipsawed by some ludicrous statement by JCTrichet or the Bernank.
Best of luck, everyone. Hopefully, we can get back in the game!
Olexsandra