{"id":2131,"date":"2017-05-31T06:09:21","date_gmt":"2017-05-31T12:09:21","guid":{"rendered":"http:\/\/www.ctsfutures.com\/?p=2131"},"modified":"2017-05-31T06:09:35","modified_gmt":"2017-05-31T12:09:35","slug":"morning-thoughts-2017-05-31","status":"publish","type":"post","link":"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-05-31\/","title":{"rendered":"Morning Thoughts – May 31"},"content":{"rendered":"

<\/a>Financials<\/u><\/strong> –
\nA friend brought to my attention the spec (non-commercial) positioning in the Euro yesterday, and I\u2019ve attached a 10-year history below.\u00a0 It is catching some attention because as you can see the net long position in the Euro is near the highest it has been in the past 10 years and whenever anything reaches a historical extreme it is worth noting.\u00a0 That said, if you look at the scale, the net position really isn\u2019t that big<\/em>.\u00a0 It is big relative to its history but depending on your fundamental bias it certainly would have room to move larger if specs were to get as bullish as they have been bearish in the past.\u00a0 That being said, as noted yesterday ECB President Draghi was pretty dovish over the weekend and if he continues to take a very dovish tone going forward it might shake a few of the late-to-the-party longs out for a bit here.\u00a0 Looking at the chart, the 1.14-1.15 level looks like it might be the next major technical resistance hurdle.<\/p>\n

\"Euro<\/p>\n

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