What's new today?
This morning ahead of the London session we're seeing some strong shifts in retail positioning, USDCAD, USDCHF and USDJPY have been in the strong short zone for a long while, with an unbelievable 80%+ or traders long while these pairs have been consistently selling off! On the flip side of this coin AUDUSD has entered the long zone with 61% of traders short as it nears multi year highs! GBPUSD has been consistently making higher highs and is now kissing a major resistance area at the same time 71% of traders are short this pair!
We are hitting extreme levels in the market, with USD weakness a common theme across currency pairs.
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