Yes it still appears you're all continuing to sing from the same hymn sheet judging by recent submissions, which is good to see.
I doubt you'll be surprised by now to discover that last week from tuesday through thursday whilst oil was being shouldered at that 48 round number, punters were throwing shorts at it like it was going out of fashion, just as it was gearing up to continue its northerly ascent in line with the current dominant directional flow. As NY came online thursday, the aggregated retail positioning recorded an 84.6% short exposure.
All through last week, shorts were increasing on eur/aud off the 1.48 & 49 round numbers, spiking at 87.6% into 1.50 (increasing today to 91.3%).
Similar deal with eur/usd.
Ftse punters got royally whacked friday trying to run thursdays slide & even more of their short stops got killed this morning on the continuation of the current dominant long flows.
Keep an eye on eur/jpy this week fella's…..punters short stops got cremated on friday & more were burnt today through 125, but they're still piling into shorts. You're all aware of when your background will signal neutral, but that isn't quite yet.
Nervous short stops are clumped above today's highs tiered to last week's top @25.80, so be on your toes if it fails to slip through your usual alert levels.