The euro is trying to stabilise at 1.30

Extreme bearish sentiment is piling up on the euro. Can John C Burford's chart tramline take the weight, or are further declines on the cards?

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I will cover the euro today as it is at a crossroads. Last Wednesday, I posed the question: will the euro bounce?

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OPEN INTEREST: 218,469
COMMITMENTS
63,35589,4716,755107,81169,195177,921165,42140,54853,048
CHANGES FROM 09/11/12 (CHANGE IN OPEN INTEREST: -12,098)
-11,4775,2459526,500-24,085-4,025-17,888-8,0735,790
PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
29.041.03.149.331.781.475.718.624.3
NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 173)
316719514694120Row 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.