28/01/2012 Weekly Currency Futures Sentiment and COT Report

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Jan 13, 2012
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The euro futures downtrend is now over. With commercial traders holding almost 80% in long positions, daily open interest is significantly dropping; we might now call the bottom of this downtrend. We expect the spot price EUR/USD to correct in the coming days. The potential downside is now limited and we recommend buying EUR/USD on pullbacks toward the 1.30 area. To fully confirm the end of the decline, commercials must unload their long positions. Next week we should see a drop in long positions and an increase in shorts.

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28/01/2012 Weekly Currency Futures Sentiment and COT Report