Thread: EURUSD Trend update

EURUSD Daily trying to stay above 50 Day SMA: http://niftychartsandpatterns.blogsp...update_27.html

Euro FX
EUR/USD

Date 27/01/2012
Total Open Interest 306,415
Net Marginal Change -3,410
Marginal Accumulation 179,359
Change in Total OI (%) 79.71

The spot price advanced further today. It is about to close the week above 1.32. In yesterday’s trading euro futures traders dropped another 3,410 transactions. This is a second consecutive day the decline in Open Interest in this market since 6th Jan. Falling OI is an indication of the weakening trend. We expect EUR/USD to gain significantly in coming session. EUR/USD tends to rally or decline during the rollover in Euro options market. The delivery is due with the beginning of each month. I would expect EUR/USD to form a corrective pattern and advance further in February and onwards. Look out for a weekly COT report in order to gauge sentiment.