Chart of the Week - US Dollar

This week we highlight the US Dollar and positioning in 2024, where the current rally did not start, until Large Speculators (blue column) covered their long position.

In mid-June, you can see Large Speculators starting to increase their net-long levels and making a big move as the USD tried to make a new high on the year (and failed). They remained net-long from mid-June until mid-September, where the USD kept going down on the year and made new lows. Once they covered their longs, the Dollar had a reversal day at the beginning of October and has not looked back, making a new yearly high in November. This is a great example of how positioning can help improve your trading, and keep you out of a trade until the reward/risk is on your side.

Longer term view of positioning

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Thanks,

The CMR Team on behalf of Jason Shapiro

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