The COT for Mar 08 is out, click on the following links for the currency that you are interested in:
COT 3/10 - EUR (Bullish)
COT 3/10 - GBP (Bullish)
COT 3/10 - CHF (Bullish)
COT 3/10 - JYP (Bearish)
COT 3/10 - CAD (Bearish)
COT 3/10 - AUD (Neutral)
COT 3/10 - NZD (Neutral)
Actually, the COT indicator is getting me somewhat jittery because I'm currently bullish on USDCHF and bearish on GBPUSD. However, this could be due to a temporary dollar strength that some people are looking for right now.
USDCHF has made a significant move downwards (counted 5 waves down), and I think a short-term low at 1.0133 is in place. And I'm looking for a short-term corrective rally.
Conversely, GBPUSD had made a significant move upwards (counted 5 waves up), and short-term high at 2.0220 could be in place. Thus I'm looking for a short-term correction downwards and shorting around 2.0100.
As you can see, indicators can give different perspective and you need to determine which you prefer. Of course, it will be so much better if everything is aligned....
Well, bye for now and good luck with your trading!
Technical Analysis of the Forex Spot Markets using Elliott Waves, Chart Patterns, Candlesticks and other tools. Disclaimer: None of the comments in this blog shall be construed as professional trading or investment advice.
