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Habib · 04-07-2005, 02:05

psy,

Like Mick, I too don't try to look too deep into COT data. I believe it represents the current picture and not a pre-cursor for future.
In fact if it shows too much bullishness one way, brace yourself for a surprise in the other direction.
I think the european currencies (Euro, Pound and Swissie) are due for a reasonable-size correction like 300-500 pips.
US dollar cannot sustain its strength much longer because it will soon start showing signs of the bad effect of its strength on the US economy. If it makes any further inroads, it will be because of euro problems and not its own greatness.
BTW: Happy 4th of July.

04-07-2005, 02:05	#13
Habib level 3 Join Date: Jun 2004 Posts: 269 Downloads: 0 Uploads: 0 Rep Power: 0	Re: Is cable in for a trouncing? psy, Like Mick, I too don't try to look too deep into COT data. I believe it represents the current picture and not a pre-cursor for future. In fact if it shows too much bullishness one way, brace yourself for a surprise in the other direction. I think the european currencies (Euro, Pound and Swissie) are due for a reasonable-size correction like 300-500 pips. US dollar cannot sustain its strength much longer because it will soon start showing signs of the bad effect of its strength on the US economy. If it makes any further inroads, it will be because of euro problems and not its own greatness. BTW: Happy 4th of July. Last edited by Habib : 04-07-2005 at 02:10.