Commitments of Traders
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.
Speculators added 1.5K longs this week and covered further 2.3K of their shorts. This full swing bullish bias supports rising prices in GBPUSD. Speculators were 73K net short and pushing up from the extreme 90K reached a few weeks back. Expect more upside in this market.
There was a big shift in CAD positions this week. Speculators covered a whooping 21.6K of their long positions and 6.4K of their shorts. They were 4.5K net long, which was a significant change from 19K in the previous week. Interestingly, the price didn’t change that much during last week’s trading. I would like to see what speculators and the price do next week. We could see a large shift in this market ( to the upside in USDCAD )
There was a big shift in speculative positions this week. Speculators covered 16.2K of their long positions and, at the same time added 2.4K new short positions. This shifted speculators to be 68K net short, which was a drastically higher from 49K in the previous week. Speculative positions also dropped below 33 weeks moving average, which is a fairly bearish signal
Speculators were bullish for another week. This time they got aggressive. They covered 3.4K of their short positions and added fresh 2.9K longs to their portfolios. They were 53K net short, which was significantly changed from being 59K in the previous week. Net speculative positions are now trending back above 33 weeks moving average, which is a great bullish signal. There is more upside for AUDUSD in the coming weeks/months.
Despite uncertain political situation in the UK, speculators remain bullish and the price action points to the upside. This week the smart money added 552 new long contracts but also covered 3.5K of their shorts. They were 84K net short, which was changed from 89K in the previous week. My bias, together with the speculators remains to the upside.
There was no much change this week in the smart money positions. Speculators added new 5K of long positions and 5.8K of shorts. They were 38.8K net short, which was almost unchanged since the previous week. The price of EURUSD collapsed last week to fresh lows but the speculative positions suggest the bottom is nar and the smart money prefers to be on the long side. If they get caught remains to be seen.
Speculators dumped another 7.4K of their short positions this week. This is the 3rd consecutive week with the smart money abandoning short side of the trade. In total they covered 15K short contracts. At the same time they added fresh 1.2K long positions this week, which equates to a clear bullish outlook in EUR futures. Net positions were at 38K, significantly less than 47K in the previous week. The price action clearly suggests a double bottom and the timing couldn't be better. If the current sentiment continues, September should bring sizable rallies in EURUSD market.
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