Euro COT Weekly............Seasons Greetings All......
Quote:
In the Euro Single Currency we see that the Large Speculators have begun to shift their heavily Net Long posture with a sizable increase in Net Short Positions...this indicates a Top is forming.
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In the Euro Single Currency the Large Speculators continue their slow unwinding of their Long Positions with Net Longs decreasing moderately...also Open Interest is decreasing from a Yearly extreme...Covering of the Long Positions. The Commercials continue a significant Net Short posture as they begin to Distribute their Shorts to the Large Speculators.
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In the Euro Single Currency the Large Speculators have moved to a Net Short Position for the 1st time in the last Year with the Commercials moving into a Yearly Net Long posture...the Distribution phase of the Commercial Short Positioning has begun to the Large Speculators...also a sizable decrease in Open Interest signifies that the Large Speculator Long Covering is in motion and the 1.3468 Alltime High will remain intact. Looking for a North containment zone for the Eur/Usd at the 1.3417<>1.3390 basis for a South Reversal decline thru 1.3350<>1.33 to the 1.3250<>1.32 basis.