CFTC Euro non commercial's positioning
CFTC Euro non commercial position's (Funds) is almost near to 7 years high (see chart below).
In simplify terms means many fund managers have been buying Euro. Hence Funds' positioning on Euro has been high.
We only trade using CFTC data when they are at extreme high or extreme low.
Whenever the positioning is at the peak, that's when EURUSD tends to peak as well.
Looking at the trend, it looks like Euro Funds' position should reach the peak in next few weeks.
That's when we will be shorting Euro.
In simplify terms means many fund managers have been buying Euro. Hence Funds' positioning on Euro has been high.
We only trade using CFTC data when they are at extreme high or extreme low.
Whenever the positioning is at the peak, that's when EURUSD tends to peak as well.
Looking at the trend, it looks like Euro Funds' position should reach the peak in next few weeks.
That's when we will be shorting Euro.
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