Forex Flash: Positioning suggests further upside for EUR – Rabobank (Barcelona) - The euro has regained the 1.3450 region on Monday, after selling interest dragged the cross to the area around 1.3430.
However, markets remain directionless after digesting the US data and a second tier euro docket, ahead of more relevant events in the upcoming sessions.

After assessing the last CFTC COT report, analyst Jane Foley at Rabobank commented, “Net EUR longs pushed higher to stand at their strongest position since July 2011. The continued improvement in the spot market suggests the EUR has the potential to rise further this week”. Regarding the greenback, the expert added, “Net USD longs edged a little higher but in recent weeks positions have been consolidating at fairly low levels”.