MoneyTec Traders Community Forum - View Single Post - Was this a so-called short squeeze on Friday?

Tekunda · 08-11-2003, 06:42

When the Euro went down after the positive US data to 1.1380 suddenly started to turn move back to 1.1550 was this a so-called short squeeze?
Why else would the Euro suddenly start to gain almost 170 pips after POSITIVE US data?
People suggested that the big players were buying Euros at a bargain price of 1.1380 which was a known strong support to cover the Euros they were short selling the 1.18 level. Does this explain sufficiently what happened on Friday or is there another explanation for it? Or was this just another prove of the -sometimes - totally unpredictable behaviour of the Forex markets especially on a Friday?

08-11-2003, 06:42	#1
Tekunda level 3 Join Date: Jul 2003 Posts: 633 Downloads: 0 Uploads: 0 Rep Power: 0	Was this a so-called short squeeze on Friday? When the Euro went down after the positive US data to 1.1380 suddenly started to turn move back to 1.1550 was this a so-called short squeeze? Why else would the Euro suddenly start to gain almost 170 pips after POSITIVE US data? People suggested that the big players were buying Euros at a bargain price of 1.1380 which was a known strong support to cover the Euros they were short selling the 1.18 level. Does this explain sufficiently what happened on Friday or is there another explanation for it? Or was this just another prove of the -sometimes - totally unpredictable behaviour of the Forex markets especially on a Friday?