Here on the Euro Index we have a 222 pattern that formed. what i like to see is that this pattern lines up with the COT report that was released Monday due to July 4th (United States Birthday :D 'merica) being observed on July 3rd. in the circles we have three potential bearish star patterns printing on the PRZ which is a resistance level. depending on how today closes!
The COT shows the same thing. this is the first time we have seen some profit taking and contract deliveries by both the commercials and non-commercials. The Commercials delivered about 14k contracts while the non-commercials took profit on about 10k orders. the net data is as follows:
Commercials: Current = (147,128)// Previous= (162,540)
Non-Coms: Current= 98, 955// Previous= 118,448
The COT shows the same thing. this is the first time we have seen some profit taking and contract deliveries by both the commercials and non-commercials. The Commercials delivered about 14k contracts while the non-commercials took profit on about 10k orders. the net data is as follows:
Commercials: Current = (147,128)// Previous= (162,540)
Non-Coms: Current= 98, 955// Previous= 118,448
Comment:
Alright, on the Euro Index EXY today we completed a bearish star pattern making it three that printed near the top of the PRZ, and today we closed as a bearish day for the EXY. With the COT data indicating that the big players are either delievering on contracts or taking profit. this is indicated by the declivity of the Open Interest. we reduced the OI by 5,000 orders. So with this I will assume we will see a slight decline in the euro, nothing to put a position short on and leave it for months, but if swinging might wanna take profit or close positions. I am in a EJ short at the moment and will love to see how the trade turns out as the Yen also saw some profit taking by the whales!