Crude oil prices soared on Wednesday, mostly sealing the fate of a 4th consecutive monthly gain as September concludes soon. Still-bearish retail exposure further underscores a bullish posture.
The Euro might remain in a bearish posture against the US Dollar and British Pound. As EUR/USD eyes the worst week since May, EUR/GBP might turn lower after rejecting resistance.
The British Pound appears to be all set for the worst month since August 2022 and retail traders continue to relentlessly build upside exposure. Will this spell further losses for GBP/USD?
Crude oil prices have continued to consolidate in recent days, but retail exposure is continuing to grow in favor of the downside. Is this a sign that WTI may continue higher next?
The Euro fell on Monday, setting EUR/USD on course for an 11th consecutive weekly loss. Meanwhile, retail traders continue to increase upside exposure, which is a bearish contrarian signal.