The euro is still weak, despite the big boys starting to exit their short positions I don't see the euro doing anything drastic. The yen is still solid, as it is a safe haven and considering the uncertainty over the last months it still in a bearish mood. Starting to sell around 129.75 at a supply zone but I think price could go as high as 130.25.
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Looking for shorts on the euro from around 1.165 to 1.1725. Looking at this week's COT data we can see that non-commercial traders exited 13,206 shorts on euro futures, which may cause some bullishness but the euro is still bearish. Despite the trade war concern, the US economy is still solid and with an expected rise in CPI this week it may be strengthened....
One reason why bitcoin is struggling to move up is the bitcoin futures market. The futures market opened Dec 18, literally the peak of bitcoin. Looking at the COT data, we can see that bitcoin has always been in a negative net position. Which means there has always been more short positions than long postions. Below is the data collected since April which shows a...
