News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/rChAkNqPL2
  • Long wick candles are recurrent within the forex market. This makes understanding the meaning behind these candles invaluable to any trader to comprehend the market dynamics during a specific period. Learn about the importance of extended wicks here: https://t.co/SIpslvhX0J https://t.co/jVxcE1QUBs
  • Safe haven stocks also allow traders to diversify their portfolio and reduce risk. Learn if safe-haven stocks are made for you here: https://t.co/MTc4tUDD6c https://t.co/DOQ6tyzep9
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/WQLZ1X7gIY
  • but the next major point in my view to monitor will be 52.76 - at least in the short term.
  • #Brent having broken above the pre-OPEC drop off at 45.51 is a huge deal considering it failed to crack resistance there in August (leading to the invalidation of "uptrend 2") and the psychological significance of that level https://t.co/LkEyRxFhnq
  • The New Zealand Dollar looks poised to extend its push higher against its haven-associated counterparts on robust economic data and a less dovish stance from the RBNZ. Get your $NZD market update from @DanielGMoss here:https://t.co/vytr4OR1Jy https://t.co/ZcxEUWIm8O
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2020? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/x8uyOHLtgE
  • The Swiss Franc may continue higher against the US Dollar as technical pressure favors USD/CHF bears..Get your $USDCHF market update from @FxWestwater here:https://t.co/yqJbbhAWiu https://t.co/CaMR0Vqd1m
  • The US Dollar lost ground to most ASEAN currencies as Emerging Market assets climbed despite US economic woes. USD/INR is eyeing third-quarter Indian GDP at the end of the week. Get your market update from @ddubrovskyFX here:https://t.co/urDN2b5Nwd https://t.co/toSDbVZCSi
COT Report: Euro Shorts Looking Crowded, USD Longs Continue to Build

COT Report: Euro Shorts Looking Crowded, USD Longs Continue to Build

2019-04-29 09:30:00
Justin McQueen, Analyst
Share:

COT Report: Analysis and Talking Points

  • USD longs at Fresh Multi-Year Highs ($37.57bln)
  • Euro Shorts Looking Crowded

The Predictive Power of the CoT Report

COT REPORT: G10 CURRENCIES

Source: CFTC, DailyFX (Covers up to April 23rd, released April 26th)

USD Bullish Positioning Extend to Fresh Multi-Year Highs, Euro Shorts Looking Crowded

Speculators yet again increased (+$2.8bln) their net long exposure to the USD, with overall net long positioning at $37.57bln vs. G10 FX. An increase in net short position across the board had attributed to the rise in bullish USD bets, with the exception of the Canadian Dollar.

Bearish bets on the Euro continue to make up the bulk of USD longs, however the short positioning on the Euro is beginning to look somewhat crowded, given that gross shorts are now hovering around the peaks seen in 2015 and 2016, which in turn raises the risk of a potential short squeeze. However, with data yet to show a meaningful recovery in the Eurozone, this risk is relatively low for the time being.

  • Latest Gross short (254k), 2015 peak (271k), 2016 peak (267k)

The biggest increase in net short positioning had been seen in the Japanese Yen with net shorts now totaling over $10bln, alongside this, the ratio of speculators that are short to long is at 4.03:1. Elsewhere, GBP net positioning is back to being short, albeit very marginal.

Commodity Currencies (CAD, AUD, NZD): Net short positioning in the New Zealand Dollar is at the highest since December 2018, however, positioning is somewhat modest with net shorts totalling $363mln (AUDNZD longs still attractive). Elsewhere, AUD gross longs saw a slight liquidation, consequently keeping AUD net shorts relatively elevated at $3.5bln, thus keeping the risk/reward favouring upside, particularly after AUDUSD managed to hold above the 0.7000 handle.

US Dollar

Please add a description for the image.

EURUSD

Please add a description for the image.Please add a description for the image.

GBPUSD

Please add a description for the image.Please add a description for the image.

USDJPY

Please add a description for the image.Please add a description for the image.

USDCHF

Please add a description for the image.Please add a description for the image.

USDCAD

Please add a description for the image.Please add a description for the image.

AUDUSD

Please add a description for the image.Please add a description for the image.

NZDUSD

Please add a description for the image.Please add a description for the image.

KEY TRADING RESOURCES:

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES