Brian Twomey
Brian's Investment
EUR/USD Futures contracts expired Dec 16 and rolled into current March 17. December 15 traded 609,000 contracts for USD 3 trillion. Friday December 16 dropped to 289,000 contracts at 1.4 trillion. EUR/USD enters this day at 158,000 contracts at 794 billion and 2.3 trillion in Open Interest. 158, 000 contracts sits just above the 152,000 lows from December 17 and the 2nd lowest since November 17. Overall, the liquidity issue is just fine as always. Part of the myths of currency trading is a price may run to an unknown destination due to liquidity issues. This is a myth since every point traded is known far in advance and especially today in the world of the tightly controlled price by the central banks.
Current EUR/USD is built upon a base at 1.0118 with supports just above at 1.0219, 1.0225 and 1.0269. Today's target is located at 1.0392, what lies just ahead is 1.0417 and 1.0423. Bottoms for today's EUR/USD are located at 1.0320 and 1.0332. To see bottoms then EUR/USD must break 1.0351. The big line break and level driving current EUR/USD is 1.0550. A break targets 1.0665. The road to 1.0550 today is found at 1.0423, 1.0449, 1.0484.
Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.
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USD/JPY keeps pushing higher, eyes 156.00 ahead of US GDP data
USD/JPY keeps breaking into its highest chart territory since June of 1990 early Thursday, recapturing 155.50 for the first time in 34 years as the Japanese Yen remains vulnerable, despite looming intervention risks. The focus shifts to Thursday's US GDP report and the BoJ decision on Friday.
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