Bullish On Euro Currency
Above is a weekly chart of the Euro Currency and below that is the net positions of the small, large and commercial traders.
I'd like you to focus on what the commercials are doing right now (red line).
You'll note that the commericals are holding their largest net long position in years. In my opinion this is extremely bullish and I am looking for this currency to make a large move up.
The above chart is courtesy of BarChart.com
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2 comments:
EUR/USD seems to making C/H targetting ~1.63.
+ you get a higher interest on your euro.
What is not to like
Hi Kevin,,
here is another chart of commitments of traders http://www.softwarenorth.net/cot/current/charts/EC.png I think that we should follow the Large Specs as they drive the trend. in Euro now they reverse to net short ..as you can mention large specs holding huge longs on big rally and scaled back near the top is ti more appropriate to follow Large specs or commercial
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