The European common currency bounced back this week with a strong +24,512 contracts and has now risen for two straight weeks. This recent improvement has taken the overall speculator standing to a level of just -11,837 contracts. With the #EUR/USD# currency pair trading virtually at parity as it closed the week at the 1.0017 exchange rate, it is an interesting situation trying to read the large trader positioning. The speculators, especially in currencies, usually exhibit trend following behavior and would be expected to have a position of at least -100,000 contracts in this type of environment.
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