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Reading a foreign exchange quote may seem a bit confusing at first. However, it's really quite simple if you remember two things: 1) The first currency listed first is the base currency and 2) the value of the base currency is always 1. The US dollar is the centerpiece of the Forex market...

The EURAUD chart is interesting... During the period from May 18, 2012 until today, the EUR sold off from 1.3029 to 1.2170. The pair is revisiting the area where it traded earlier this year in February. The 14 day RSI is currently oversold at around 25. We are inclined to take a minor long...

The latest COT Report shows that large and small specs that combined positions in the latest period had an increase in the USD long position from 284.4K in the previous week to 312.5K. The biggest open position remains in the euro where the specs are now short 198.5K euro contracts (long the...

There was some recovery in the commodity index values yesterday, but this is after a sell-off of over 20% in the last four months has tamed some of the adventuresome animal spirits in the commodity markets. And, if traders are going to conclude the US inflation is going to perk up, weakening...

Speculators Set New Record for USD Longs, w/e 25 May 2012 The USD remains popular with the speculators as they push their longs up to 310,502K contracts. Only the yen and the C$ seem to be substitutes for the USD, in the specs views of the current state of affairs. Look for new proposals to...

The aftermath from last week's elections continue to weigh on the markets, and in currency markets, the threat of political change is the most important driver. The Greeks voted for those who opposed the austerity plan recommended by the Troika, but have no plans for repayment of debt coming...