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TFC Commodity Trading Forum

Weekly USD Index COT Report at Extremes *DX Weekly *LINK* *PIC*

The Large Commercial players are now over 90% short the greenback, while both Large and Small Specs are tilted massively to the long side, having increased their net long positions even further through to this past Tuesday. These COT numbers are very consistant with levels that have preceded significant near-term corrections for the dollar in the past.

The weekly chart shows an eleven week run up from the October lows, ending with this week's 'hanging man' candlestick, one that signals the beginning of a potential reversal. Also note the bearish rising wedge pattern...a break under this past week's low (80.53) could trigger it.

Link to COT report is below the chart.