Canadian Dollar Historic Long(Futures)

This is the CoT index of Commercials(Blue) and Retailers(Green). As you can see, Commercials are in the high extreme and Retailers are in low extreme of the index. The vertical blue lines are the past identical situations which ended up in big rallies.


Plus, when the retailers net position(green area) is around -8000 (the dotted green line) resulted in rallies also.


On top of that Commercials net positions(the blue area) is close to the all time high (since 2001). the last time Commercials net positions were this high was May 2017 which ended up in a BIG rally.


Besides, the 15-year seasonality shows bottom of the market around the end of June and top of the market around the end of July.


Keep in mind that this is the Canadian Dollar futures chart which is the inverted of USDCAD of Forex chart.