Daily view - COT

GU had a positive close on D and a doji that never followed through higher. 1hr was starting a higher low higher high cycle which failed in US session. D still below its 8 lwma and RSI 50 level.

EUR had an engulfing negative close to a support area (the body lows June/July 2010) but in general nothing to stop the selling.

Ralph Shell reports COT data (see link then go to articles) that record EUR shorts have been reduced again by the big dogs. Still a massive short position but its reducing. Is this the start of a process that may see a turn? It would no doubt take weeks as the massive shorts will take time to offload.