My Commitments of Traders Report is out
AUD -Australian Dollar Futures
AUDUSD buying continued into last week despite a negative price action. Daily charts suggest AUDUSD rebounded from the major resistance at 0.7230 and it looks very bearish for now.
COT data shows a different picture.
Non-Commercial traders became NET LONG in this market last week (as noted below).
This week they added another 5.7K long positions and covered 1K short contracts. This is after they added over 2.5K longs and covered over 5K shorts in the previous week.
This is the second week with Non-Commercials being NET LONG in Australian Dollar futures.
They now hold 72K long contracts vs 62K short positions. I would expect prices of Australian Dollar to increase in the coming weeks.
See last week’s note below
COT data shows non-commercial traders became NET LONG in AUD futures for the first time since April 2014. Historically, the price did not follow the bullish sentiment for long.
In July 2012, Non-commercial traders became net-long but the price didn’t follow through. It moved 1.0180 to make highs at 1.0580 and dived significantly sometime after.
Back in April 2014, AUDUSD moved sideways after Non-Commercials became Net long and dropped few weeks later.
AUD -Australian Dollar Futures
AUDUSD buying continued into last week despite a negative price action. Daily charts suggest AUDUSD rebounded from the major resistance at 0.7230 and it looks very bearish for now.
COT data shows a different picture.
Non-Commercial traders became NET LONG in this market last week (as noted below).
This week they added another 5.7K long positions and covered 1K short contracts. This is after they added over 2.5K longs and covered over 5K shorts in the previous week.
This is the second week with Non-Commercials being NET LONG in Australian Dollar futures.
They now hold 72K long contracts vs 62K short positions. I would expect prices of Australian Dollar to increase in the coming weeks.
See last week’s note below
COT data shows non-commercial traders became NET LONG in AUD futures for the first time since April 2014. Historically, the price did not follow the bullish sentiment for long.
In July 2012, Non-commercial traders became net-long but the price didn’t follow through. It moved 1.0180 to make highs at 1.0580 and dived significantly sometime after.
Back in April 2014, AUDUSD moved sideways after Non-Commercials became Net long and dropped few weeks later.
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