This market is trending upwards

Speculators on the euro have placed their bets on the currency rising. John C Burford uses his trading methods to see if the charts agree.

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I last covered the euro on 14 January - "Can the euro continue its rally?" - and since then, the answer has been a definite "yes".

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OPEN INTEREST: 211,373
COMMITMENTS
80,17472,8592,81073,11988,184156,103163,85355,27047,520
CHANGES FROM 01/08/13 (CHANGE IN OPEN INTEREST: 17,122)
13,845-1,50585-4,18220,3559,74818,9357,374-1,813
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
37.934.51.334.641.773.977.526.122.5
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 180)
5650224649110113Row 8 - Cell 7 Row 8 - Cell 8

John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.