Commitments of Traders
EURUSD traded to the downside after forming a strong engulfing daily candle last week. The pair moved down towards the local support but gain the tracking again after dismal US data last Friday. Im bias is more and more bullish on Eur Futures - See more at: http://humbletraders.com/c-o-t-report-week-18-warning-specs-net-long-eur-all-time-high-net-short-in-cad/#sthash.WRJScj5e.dpuf
Speculators covered 17K shorts and added additional 1.6K new longs. There were only 1.5K net short. This is massively down from 20K last week and 21K two weeks ago. They hold the least shorts as a % of total open Interest ( 40% ), which suggests more higher prices. - See more at: http://humbletraders.com/c-o-t-report-week-17-speculators-almost-net-long-in-eur-futures/#sthash.8uANa3tH.dpuf
If you are trading the euro, you need to be watching the election in France this weekend. While it is the first of two rounds with a final vote scheduled for May 7th, the winner's lead could set the tone for how European assets trade for the next few weeks.
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