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COT 09/02
Tuesday, 02 September 2008 19:44:20 GMT  |  Jamie Saettele, Senior Currency Strategist
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EUR: The index is at 0, indicating exteme pessimism.  The composite COT is at -71,158, below the former all-time low from July 2005 (temporary Euro low). 

At that time, a roughly 700 pip rally took place over the next 2 months.  The percentage of commercials that are long is at its all-time high now at 67.4%.  This is above the July 2005 level of 61.4%.    

 

Implications: bottoming?

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