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COT Positioning Shows EUR/USD Net Shorts Only Budged to 60,060 Contracts
COT POSITIONING SHOWS $EURUSD SHORTS ONLY BUDGED TO NET SHORT OF -60,060 CONTRACTS AS OF TUESDAY Data as of 11/1 (after the short squeeze and drop seen after the EU summit) shows that short sellers have not cut back as significantly as expected even after 400 pip swings in the past couple of weeks. The chart below shows how the 380 pip rally seen on the Wednesday of the EU summit, followed by the 400+ pip retracement in the following days, did not do much to shake hedge funds and speculators out of short positions. Usually a spike in short positioning can fortell a market bottom as an extreme in one-sided bets causes ... (full story)