What are the banks doing with the $eurusd

Based on the data that was released from the CFTC website last week, here is a snapshot of what they are doing with the euro dollar recently.

$eurusd institutional positions and Supply & Demand

EURUSD: Institutional traders have a NEUTRAL SENTIMENT. Interest Rate: 0.00% (last change - March 10, 2016) Force of Price: A monthly supply zone is in control so the monthly moderate force is downwards. Weekly supply now in control so moderate force of price is down. Daily momentum has shifted upwards but daily tested supply is in control so weak force is downwards. If daily supply at 1.1821 gets taken out, then a daily up trend will be established.

Overview: Price consolidated on the weekly chart once again and we can see that longs we increased from 177k to 179k and shorts were reduced from 155k to 149k. This goes completely against what we saw with the #usd. In this case the strength of the move up in price theory becomes ever stronger. Long exposure increased 1 point and net positions increased a staggering amount from +21k to +29k. Sentiment remains neutral. Still waiting on the daily supply to be taken out to increase the odds dramatically for a further move higher.

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