Rebound in Eur Is Imminent Amid overextended PositioningQuotes from Standard Chartered:
-In the last two trading sessions, EUR-USD rebounded from a low of 1.2642 as market strains moderated. Moreover, the weekly IMM Commitments of Traders report through 15 May shows that net short positions by non-commercial accounts in EURUSD hit a 52-week high at 172,607.
-Superficial analysis of this suggests that a rebound is imminent amid overextended positioning. However, the disaggregated CFTC data show that flow momentum remains bearish. Both leveraged funds and 'other' clients (corporates and central banks) are net sellers of EUR-USD.
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Tue May 03, 2016 9:51 am by Andrea ForexMart
Subject: Rebound in Eur Is Imminent Amid overextended Positioning