here is the recent COT report from the CME dated Dec. 5th, released Dec. 8th. (http://www.cftc.gov/dea/futures/deacmelf.htm)
As one can see, for the EUR FX, there are HUGE short positions taken by the "commercial" side while substantially big positions favoring the long side taken by the "non-commercial".
When reading the COT report for intra day trading or to get a glimpse of an idea for the up coming week, which side (non-commercial/commercial) is used to gauge this?
Sentimentally speaking, if there are huge long positions and logically very little short positions, would it be wise to think that a reversal would be near?
As one can see, for the EUR FX, there are HUGE short positions taken by the "commercial" side while substantially big positions favoring the long side taken by the "non-commercial".
When reading the COT report for intra day trading or to get a glimpse of an idea for the up coming week, which side (non-commercial/commercial) is used to gauge this?
Sentimentally speaking, if there are huge long positions and logically very little short positions, would it be wise to think that a reversal would be near?