Quote:
Originally posted by FXToday
Thanks for the reply
Basically, until last week, traders were very short of dollars against the Euro.
This has now changed acoring to the latest information with traders long of the dollar against the Euro.
Some caution is required, but the dollar cannot, therefore, look for a covering of short speculative positions to give it support.
This will increase the risk of another Euro push higher by early January, although the yield shift will offer hope for a dollar rally later in the first quarter of 2005.
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Hm... but if this is so, are you not indicating that there are more guys short EUR/USD thus long the dollar?
And if this is right, more are holding buy dollar positions... wouldn't the USD go UP thus sending the EUR/USD rate down?