EURUSD Range Breakout COT Report Update
Our Technical update from Friday focused on the recent strength of the euro versus its currency counterparts and the consolidation range pattern.
Price has now seen a breakout of this pattern, inline with the prevailing bullish trend, as the euro once again experienced extended gains across the board.
Large speculators have increased the net long EUR wager by around 300% on the weekly basis with a net long .6 billion EUR FX (CME) position as of the latest reporting period. COT report non-commercials jumped from 7,315 to 21,381 net contracts.