Sorry guys, I had some personal setbacks and couldn’t post or trade for almost a month, but I still followed the markets and updated my COT spreadsheet. This is what I am looking at right now. Things that are happening right now are far beyond the scope of my simple analysis, but can still give at least some insight.
GOLD:
Non-Commercial traders decreased both their Long and Shorts positions on Gold, the decrease in Shorts was greater which led to a decrease in Net Long positions.
DXY:
A massive drop in Net long positions on DXY last week, Non-Commercial traders closed some of their Long positions and added to their Short positions.
EURO:
Like Mr. Sive mentioned in his report, there was a massive closing on Short positions by Non-Commercial traders last week, now Net positions barely stand in negative territory.
One thing that I noticed is Euro appreciated almost in relation to all other currencies except for CHF. I don’t want to post a lot of pictures here but you can take a look at the graphs of EUR/USD, EUR/GBP, EUR/RUB,...
Look at the chart of EUR/CHF, it looks to me like we could move lower to the XOP target on EUR/CHF in Longer-term view.
CAD:
Non-Commercial traders increased their Long positions and closed some Short positions, Net positions now stand in positive territory.
On the technical side, XOP target has been hit now I will be waiting for a retracement before trying to go Long.
CHF:
Non-Commercial traders decreased both their Long and Short positions, the decrease in Longs was greater which led to an overall decrease in Net positions which now stand in negative territory.
On the technical picture uncompleted XOP target with larger 0.382 and 0.618 FIB confluence. The market retraced sharply last week but didn’t engulf the previous weekly candle.
On the 4H timeframe, we have AB=CD retracement to FIB confluence where I am taking a Short position.
JPY:
And lastly, JPY, where Non-Commercial traders closed around 40% of their Long positions and added to their Short positions which let to a big decrease in Net Positions.