US Dollar Index COT Weekly.............
Quote:
Time/Price in USD has had a North High advance to 89.29 with a South decline to Todays close at 88.01...with the 88<>87.50 basis being sustained/firmed in conjunction with nominal decreasing Open Interest/Short Covering from the last Data...the Commercials have initiated a small increase in Longs...the next 2+ COT Weekly reports will give a pivotal perspective on were the Commercial Interests see the Net Directional Bias on USD thru 2004.
South break of 87.50 thru 87 shows Net Short Bias.
North break of 90.25<>90.50 signals Net Long Bias.
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The US Dollar Index has the Commercial Interests adding to their Net Long posture to a 4 week High...not indicative of a South break below 87.50<>87 for a run to the Lows at 85 basis...also Open Interest is increasing thus Short Covering has subsided for now. The Large Speculators>Net Short are approaching an extreme to the Commercials>Net Long...a turning point is at hand.
USD currently at 88.23...still maintaining the 88 level...with Commercials increasing a Net Long Bias...Decision Time for USD's next leg is at hand. Eur/Usd Weekly Closes in green.