EUR/USD: positioning -7.6%

On 2026-08-17, EUR/USD closed at 1.15739, up 0.33% on the day. It trades at 35.6% of its 52-week range. Its RSI(14) of 61.84 is in the 84th percentile of its history since 2003, and its 20-day return of +1.28% in the 72nd percentile. Leveraged-money positioning is net -7.6% of open interest, at 3% of its own two-year positioning range. Its 20/50/200-day moving averages are 1.14852 / 1.14671 / 1.16282, with price +0.77% / +0.93% / -0.47% against them. Its 52-week range is 1.13254–1.20236; it closed 3.74% below the high and 2.19% above the low. Its 20-day volatility is 0.271% daily, in the 7th percentile of its history since 2003. Its 14-day average true range (ATR) is 0.00529 (52.9 pips), 0.46% of price. It has returned +0.15% over 5 days and -0.59% over 60 days.

=== EUR/USD  (pip 0.0001) ===
  >> close 1.15739  +0.334%   · positioning net%OI -7.6% (near bottom of own 137w range (band bottoms at -8.0%))
     cross-signal: flow signals align EUR/USD up: daily %, 20d return
  price & change   (as of 2026-08-17, prior 2026-08-14)
    close       1.15739
    change      +0.00385  (+0.334%, +38.5 pips)
    gap         +0.00401  (+40.1 pips)  (cross-session move on continuous FX; not a feed gap)
  range            (as of 2026-08-17)
    range       0.00385  (38.5 pips)  (H−L unaffected by the out-of-range close; only close-position is)
    close pos   n/a (close 1.6 pips below low — async-close artifact)
  moving averages  (as of 2026-08-17)
     20d MA     1.14852   price above by +0.77%
     50d MA     1.14671   price above by +0.93%
    200d MA     1.16282   price below by -0.47%
    price mixed vs MAs
    stack: 200d > 20d > 50d
  volatility       (as of 2026-08-17)
    20d stdev   0.271% daily ≈ 4.3% annualized (×√252)   (7th pct of own history, since 2003 (5859 obs))
    vs easing-2024 avg  0.64× (0.271% vs 0.427% era avg)
  ATR              (as of 2026-08-17)
    ATR(14)    0.00529  (52.9 pips)
    ATR%        0.46%   (2nd pct of own history, since 2003 (5865 obs))
    range/ATR   72.8%
  52-week range    (as of 2026-08-17)
    high        1.20236   (-3.74% from high)
    low         1.13254   (+2.19% from low)
  momentum         (as of 2026-08-17)
    RSI(14)     61.84   (84th pct of own history, since 2003 (5865 obs))
  returns          (as of 2026-08-17)
     5d return  +0.15%
    20d return  +1.28%
    60d return  -0.59%
  volatility by rate-era
    pre-crisis       1.05%   (from 2003-12-01)
    ZIRP-2009        0.66%
    tightening-2015  0.49%
    ZIRP-2019        0.39%
    tightening-2022  0.55%
    easing-2024      0.43%
  positioning      (as of 2026-08-11)
    next COT     as of 2026-08-18 (released ~that Fri, later if a holiday intervenes)
    net         -60,600 contracts (net short EUR)
    net % OI    -7.6%
    net%OI range -8.0% … +6.5% (own 137w)
    w/w change  -8,395
  rate differential (EUR–USD policy)
    EUR (ECB_DFR)         2.25%  (set 2026-06-17, deposit-facility floor)
    next ECB              2026-09-10  (24 days)
    USD (EFFR)            3.63%  (as of 2026-08-14, daily effective)
    next Fed              2026-09-16  (30 days)
    differential    -1.38%  (base−quote)
  10Y yield spread (US–EU)
    US (DGS10)      4.68%  (as of 2026-08-14)
    EU (euro-area AAA 10Y) 3.24%  (as of 2026-08-17)
    spread          +1.44%
  2Y yield spread (US–EU)
    US (DGS2)       4.17%  (as of 2026-08-14)
    EU (euro-area AAA 2Y) 2.74%  (as of 2026-08-17)
    spread          +1.43%
  cross-asset corr (26w weekly returns; async daily closes cap the magnitude)  (as of 2026-08-14)
    vs DXY      -0.84
    vs S&P 500  +0.54
    vs DXY beta -0.70 (26w)