Commitments of Traders
Speculators have been JPY bullish for 3 weeks now. This week they added new 2.8K long positions and covered 1.4K of their shorts. They were 22K net short, which was down from being 26K in the previous week. The price action is trending to the upside so it looks like the speculators are getting caught on the wrong side of the market. This doesn't happen often and the speculative bias eventually prevails. Its too early to say but perhaps the upside in USDJPY could be limited.
Speculators added to both sides of the trade this week. They opened fresh 12.4K long positions and 24.2K of short positions. They were 59K net short, which was down from 47K in the previous trading week. Overall this week’s positions look bearish but the net speculative positions remain above 33 weeks moving average, which defines longer term uptrend. Despite bearish outlook this week, EURUSD spiked to the upside, confirming the main trend remains upwards. I expect higher prices to follow
This week, speculators added 4.3K new long positions and 3.1K short positions to their portfolios. They were 47K net short, which was lower than 48K in the previous trading week. The same dynamic continues, smart money buys EUR Futures on declining prices while the Open Interest rises. This is clear bullish sentiment and should indicate higher prices are to come in the nearest future.
Despite lower prices, speculators kept covering their short positions for 4th consecutive week.This week they closed 14.4K of their shorts and 932 of their long positions. They were 48K – down from being 62K in the previous week.Net speculative positions hover around 33 weeks moving average, it would be clear to see them above the average for more bullish confirmation.
GBPUSD dropped this week but the speculative positions show strong bullish bias for another week. This week speculators added fresh 7.4K long positions and covered 9.5K of their short positions. They were 5.8K net short, which was lowest for a very long time. If this dynamic continues, speculators will become net long in the next few weeks.The last time they were net long was exactly a year ago. My bias remains bullish and I see the current decline in GBPUSD as an opportunity to buy GBP futures.
It was a big week in British politics and the speculative money took their side in terms of the price of British currency. This week speculators were bullish for a second week in a row. They added 4.1K new long positions and they covered 3.2K of their shorts. This is clear aggressive bullish outlook. Speculators were 22.6K net short, which was least short since April 2019. Speculative positions are trending above 33 weeks moving average as well. All variables point to more upside in GBPUSD in the coming weeks. I expect the price to push further up.
Speculators took profit this week. They covered 14K of their long positions. This accounts for an astonishing 16% of their total long exposure and could be a trigger for a large and sharp move in price. This clear bearish outlook and it might see the prices of USDCAD moving higher in the coming weeks. At the same time, speculators covered 2.4K of their short
There was a massive shift in positions this week. Speculators added a whopping 13K of fresh long contracts and covered 492 of their shorts. This is a strong indication of bullish sentiment among smart money. It is likely to push the price of AUDUSD to the upside in the coming weeks.
Speculators covered 2.1K of their long positions and added only 192 shorts. They were 53.3K net short, which was slightly higher from 51K in the previous week. Overall, net speculative positions are trending above 33 weeks moving average, which is a solid bullish signal. The price action closed weekly bar above 20 ema, which is an additional bullish signal. I can see this market taking off to the upside in the coming weeks.
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