Hello Pete.............
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USD shorts grow even bigger after a small pullback the week before. Any comments on this?
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The Commercial Positioning has been evident for 6weeks and building.......Net Long High Percentile...a different view on the Large Specs in relation to their current Net Short Positioning. The average annual mean...yellow line... that the Large Specs instituted Directional Movement are highlighted in Red for decline and Green for a Rally in USD...below the mean to extreme Net Short Positioning triggered North Rallies...currently we have a YTD+ extreme not only against the Commercials but also from the average annual mean for Positioning which translates into a double extreme as far as Price Discovery goes...and add Open Interest also into the equation at YTD Highs and 84.50><>85.50 builds a base.
Looking for a Short Covering Rally back to 87.50<>88.50 basis.