$EURUSD Weekly Outlook - To Summarize - ShortCoT has the commercial banks shorting the EURUSD still. Yeah, they added a few long positions this weel, but that was to get back to a level they wanted to add more shorts. They/ve been shorting since the height of the Pandemic swing. so for the Central banks to start being profitable, the price will have to be below 1.13500. If you draw a fib from the start of the EURUSD commercial shorts to the height of the commercial shorts, you can see it unfold in the fib extensions where price wants to reach.
I personally like to see a bit of a larger retracement to the green box notated in this chart during the London/NY session before aggressively going short.
Plus theirs divergence in the 10 year bonds between the currencies. As most are going up, the EUR is taking a dip as of recent.
DIVERGENCE IN 10 YEAR BONDS
Strong Bear tendencies this week. It will be London op and NY open to find the best setups to go short.
