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EURUSD Range Breakout – COT Report Update

• Our Technical update from Friday focused on the recent strength of the euro versus its currency counterparts and the consolidation range pattern.
• Price has now seen a breakout of this pattern, inline with the prevailing bullish trend, as the euro once again experienced extended gains across the board.
• Large speculators have increased the net long EUR wager by around 300% on the weekly basis – with a net long $3.6 billion EUR FX (CME) position as of the latest reporting period. COT report non-commercials jumped from 7,315 to 21,381 net contracts.

H4 Chart – Fig 1

D1 Chart – Fig 2