In this pair, a horizontal resistance seems to be rejected in the past few days. Price is also hugging the upper channel of a bearish parallel channel. I expect it to reject lower.
The EURO's net positions as per last week's CFTC COT REPORT are at 134k. Long positions have been falling for most of the second half of 2020 as hedge funds take profits.
The EU is also expected to release further stimulus next month. This will also put pressure on the currency.
Personally, I'll be selling most EURO Pairs heading into next year.
The EURO's net positions as per last week's CFTC COT REPORT are at 134k. Long positions have been falling for most of the second half of 2020 as hedge funds take profits.
The EU is also expected to release further stimulus next month. This will also put pressure on the currency.
Personally, I'll be selling most EURO Pairs heading into next year.
