Technical Analysis

EURUSD Most Bearish Since December 2016, USD Longs Rise – COT Replace

COT Evaluation and Speaking Factors

USD Lengthy Positioning on the Rise But Once more

Largest EURUSD Shorts Since December 2016

JPY Sees Largest Improve in Web Brief Positioning

The Predictive Energy of the CoT Report

EURUSD Most Bearish Since December 2016, USD Longs Rise - COT Update

Supply: CFTC, DailyFX (Covers as much as March 5th, launched March eightth)

Largest Euro Web Brief Positioning Since Dec’16, USD Bullish Wager Rise Once more

USD longs noticed one more improve ($1.778bln vs G10 FX), with the positive aspects predominantly made up of Euro and Yen shorts. Speculators stay most bearish on the Euro within the G10 advanced with shorts rising by $736mln to $11bln, whereby Euro shorts are actually the biggest since December 2016. As such, provided that this knowledge had been prior (March 5th) to the ECB determination, these shorts would have been rewarded given the worth motion after the ECB announcement.

Elsewhere, internet positioning in GBP had been much less bearish following a wave of brief protecting with 9.5k gross brief contracts being lowered. JPY positioning noticed a sizeable $1.2bln improve internet shorts, which in flip sees the JPY persevering with to stay the second largest shorted forex within the G10 area.

US Greenback

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EURUSD

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GBPUSD

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USDJPY

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USDCHF

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USDCAD

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AUDUSD

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NZDUSD

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KEY TRADING RESOURCES:

— Written by Justin McQueen, Market Analyst

To contact Justin, e-mail him at Justin.mcqueen@ig.com

Observe Justin on Twitter @JMcQueenFX

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