US Dollar Index: The composite COT has dropped from high levels, which warns of a top. However, with speculative longs gradually decreasing and now back to more normal levels, confidence in a top is lowEUR: Composite COT remains near historically low levels, which is suggestive of a bottom. However, speculative shorts have gradually declined and positioning is not considered extreme anymore, which decreases confidence in a contrarian play.
The only significant developments in the COT are in the Swiss Franc futures. Speculators are extremely short CHF futures, which suggests a CHF bottom (USDCHF top).
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