Nick Cawley

Aug 28, 2024 | dailyfx.com | Nick Cawley

EUR/USD AnalysisCurrent Position:30.60% of traders are net-long (buying)69.40% of traders are net-short (selling)The ratio of short to long positions is 2.27 to 1Changes in Long Positions:Increased by 20.19% since yesterdayIncreased by 44.60% since last weekChanges in Short Positions:Decreased by 5.87% since yesterdayDecreased by 3.33% since last weekMarket Interpretation:We generally take a contrarian view to crowd sentiment.

Aug 28, 2024 | dailyfx.com | Nick Cawley

Gold (XAU/USD) and Silver (XAG/USD) Analysis and ChartsGold remains positive in the coming weeksSilver’s technical break higher remains in place. The US dollar Index (DXY) is around 0.4% higher in European trade after steadying around a 9-month low this week. This slight move higher lacks any conviction and a further move lower is expected in the coming weeks as US interest rate cuts come into play.

Aug 26, 2024 | dailyfx.com | Nick Cawley

USD/JPY AnalysisCurrent positioning:49.50% of traders are net-longThe ratio of short to long traders is 1.02 to 1, indicating a slight bias towards short positionsChanges in positioning:Net-long traders increased by 2.61% since yesterday and 11.55% from last weekNet-short traders increased by 0.95% since yesterday but decreased by 4.75% from last weekContrarian view:The analysis suggests taking a contrarian view to crowd sentiment.

Aug 23, 2024 | dailyfx.com | Nick Cawley

EUR/USD, GBP/USD, and Gold Sentiment AnalysisRetail trader data shows 25.76% of EUR/USD traders are net-long with the ratio of traders short to long at 2.88 to 1.The number of traders net-long is 12.88% higher than yesterday and 17.56% lower from last week, while the number of traders net-short is 0.68% higher than yesterday and 19.41% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/USD prices may continue to rise.

Aug 21, 2024 | dailyfx.com | Nick Cawley

EUR/USD Underpinned by Better-Than-Expected Euro Area PMIs, Weak US DollarEuro Area composite PMI beats expectations but caution neededGerman manufacturing woes continueCan Powell support an ailing US dollar? Economic activity in the Euro Area picked up in August, according to the latest HCOB PMIs, but a closer look at the numbers ‘reveals that the underlying fundamentals might be shakier than they appear,’ according to HCOB chief economist Dr. Cyrus de la Rubia. ‘It’s a tale of two worlds.