This week, speculators reduced their longs by another 5.5K positions. This is after they covered 11K in the previous week At the same time, they reduced their shorts by 16K. This is a large quantity. This is 5th consecutive week when shorts are being cut. Overall speculators are 82K net short, this is down from the previous week (92K), meaning Speculators are less bearish on Euro FX futures this week, compared to the week before. The market remains bearish until major shift in short orders quantity
Posted in: Commitments of Traders,
Elliott Wave weekly picture – 09-17-16, EURUSD trade triggered, Gold and DOW offer low risk entry setups!
Right now we stand in wave 'e' red, of that triangle. and the alternate wave count views that 'e' wave as already complete! this inturn means that the down trend should take hold again shortly if it has not already done so. either way I think we are in for fireworks on this chart soon, and there is not a thing that the central bank and political class can do about it. the waves hold the power!
Posted in: Elliott Wave Analysis,
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