That large specs didn't pile out the USD friday is indeed a notable event. with Easter around the corner and USD still holding against the EUR at the 108-1.10 range with EUR unable to push above the psychological barrier 1.10 is note worthy particularly as currency trading is expected to thin out next week. Now, according to data from the Commodity Futures Trading Commission just released, net longs on the USDX rose last week and net shorts on the euro jumped to a record high. Bearing in mind interest rate differentials and a lack of clarity on Greece, the long term down trend for EUR remains in place. With Fed Chair trying to restrain the USD for fear of the hurt it can cause US exporters and the Dow there still doesn't seem much to temper market prices and the eventual final push towards the parity on the EUR as the USD threatens to soar. read on Bloomberg -
http://www.bloomberg.com/news/articles/2015-03-27/yellen-makes-case-for-slow-cautious-rate-rises-after-liftoff
http://www.bloomberg.com/news/articles/2015-03-27/yellen-makes-case-for-slow-cautious-rate-rises-after-liftoff
USDX
Support 96.620 Resistance 98.660
EUR
1.08975 +0.00231 +0.21%
Support 1.07473 Resistance 1.10453
Crude Oil
48.38 -3.05 -5.98%
Support 46.32 Resistance 52.66
Gold
1199.10 -1.75 -0.15%
Support 1,185.1 Resistance 1,212.9
Pieter Bergli - DeLoren Trust Holdings
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