{"id":21424,"date":"2011-05-31T04:48:05","date_gmt":"2011-05-31T08:48:05","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=14474"},"modified":"2011-05-31T04:48:05","modified_gmt":"2011-05-31T08:48:05","slug":"market-positioning-contributes-to-eurusd-rally","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/05\/31\/market-positioning-contributes-to-eurusd-rally\/","title":{"rendered":"Market Positioning Contributes to EUR\/USD Rally"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/9.jpg\" width=\"120\"  alt=\"printprofile\" \/><\/p>\n<p>Germany\u2019s willingness to <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/05\/31\/euro-starts-the-short-week-strong\/\">compromise<\/a> on the restructuring of Greek sovereign debt combined with market positioning has allowed for euro bulls to regroup. <\/p>\n<p><span id=\"more-14474\"><\/span>Today\u2019s early gains in the euro were a product of the potential compromise. Also contributing to the sharp gains this morning was a shift market positioning. Friday\u2019s <a href=\"http:\/\/www.cftc.gov\/marketreports\/commitmentsoftraders\/index.htm\">CFTC Commitments of Traders<\/a> report showed a more balanced market standing with leveraged funds shedding almost 9,500 long euro contracts. Today\u2019s rally in the EUR\/USD above the 1.4400 mark may have forced some of those newly established short positions to cover as the market is currently positioned short euros and long on the USD. <\/p>\n<p>This morning\u2019s rally was capped below the 1.4425 resistance level off of the May 11th high. A break here and the EUR\/USD could rally to the next resistance near 1.4750 from the late April\/early May lows. Support comes in at the May 20th high at 1.4345 followed by the 100-day moving average at 1.4040.<\/p>\n<p>Read more forex trading news on our <a href=\"http:\/\/www.forexyard.com\/blog\/en\/\">forex blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> Germany\u2019s willingness to compromise on the restructuring of Greek sovereign debt combined with market positioning has allowed for euro bulls to regroup.<br \/>\nToday\u2019s early gains in the euro were a product of the potential compromise. Also contributing&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-21424","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=21424"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21424\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=21424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=21424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=21424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}