US Dollar and Euro are going to be extremely volatile, due to CPI/PPI/FOMC etc coming through this week, until then expect the pair to trade within the supply boxes marked down.
Until Wednesday I will stay away from any USD pairs, any bumps to the upper supply zones, sell, any bottom range zones buy... this is going to be a day traders party this week.
EURO/Dollar COT rate 3 months
Non-Commercial Commercial Total Non-Reportable
Long Short Spreads Long Short Long Short Long Short
(CONTRACTS OF $1,000,000) Open Interest: 527,383
141,397 144,442 0 335,311 322,207 476,708 466,649 50,675 60,734
Changes (Change In Open Interest: -33,003 )
-20,054 -54,819 0 -8,740 +23,578 -28,794 -31,241 -4,209 -1,762
This further proves that there is no clear direction for the market this week.
Until Wednesday I will stay away from any USD pairs, any bumps to the upper supply zones, sell, any bottom range zones buy... this is going to be a day traders party this week.
EURO/Dollar COT rate 3 months
Non-Commercial Commercial Total Non-Reportable
Long Short Spreads Long Short Long Short Long Short
(CONTRACTS OF $1,000,000) Open Interest: 527,383
141,397 144,442 0 335,311 322,207 476,708 466,649 50,675 60,734
Changes (Change In Open Interest: -33,003 )
-20,054 -54,819 0 -8,740 +23,578 -28,794 -31,241 -4,209 -1,762
This further proves that there is no clear direction for the market this week.
Comment:
Beautiful reactions of supply boxes, EUR/USD to continue being rangebound
Comment:
Target reached and pair rebounded from the supply boxes perfectly. Non trade until FED Rate decision tomorrow, rangebound within 1.08