Hello, big Boyz! I hope you all had a great weekend! CFTC COT Tool Data proving to be an extreme reliable a useful tool. The pullback indeed happened and some USD buying signals popped again. Let’s check it, but before we start don’t forget to share the article on your social media and follow me on Twitter @leohermoso
Forex Weekly Video
EURGBP | POSSIBLE TOP | BUY EXHAUSTION
Two sell signals to EURGBP, remember that there is no COT Data for EURGBP, but I do create it mixing EUR and GBP COT Data (you will find this no other place than here), what I learn looking at past EURGBP past signals they all are usually premature and the pair seeks next supply zone before drop again. You can find this going to the COT Tool→Tools→Past Signals, and, of course, don’t forget to select EURGBP on the dropdown menu.
Adding to the above we have an extreme on long positions, so a drop is highly expected.
EURGBP COT CHART
AUDUSD | RSI SELL SIGNAL
Well by now you are familiar with the strong correlation AUDUSD have with Copper. We got a bunch of sell signals for Copper too, as we discussed in slack chat, makes a lot of sense to take some risk shorting AUDUSD now.
Looking at COT Index is easy to realize that commercials are already playing the downtrend mode.
We already have a short running and a clean breakout of 0.70 will encourage us to add more. So patience is the key here.
Friends, I want you all to take a look at the Bias table inside the cot tool, this week we have two MAJORS changing bias. This is going to be huge.