EUR/USD COT Positioning
How large traders are positioned in EUR/USD futures, straight from the weekly CFTC Commitments of Traders report. Updated within minutes of every Friday release.
What the positioning says
Leveraged funds are net short 38,173 contracts and trimmed that short position over the past week. That leaves positioning at the 22nd percentile of its 52-week range — approaching the washed-out end, though not yet at an extreme.
WAVG reads this the same way every week across every market, names the factors behind the bias, and flags when positioning reaches an extreme that has historically preceded a turn.
What moves EUR/USD positioning
The euro is the anti-dollar — the largest currency futures contract by open interest at the CME, traded by leveraged funds (tactical), asset managers (real-money flows), and dealers. Because it sits on the other side of most dollar bets, EUR/USD positioning is often read as a proxy for broad dollar sentiment.
The driver is the ECB-versus-Fed rate path and the growth divergence between the euro area and the US. When funds crowd to one extreme on a single rate-differential story, the euro has repeatedly reversed as that story gets fully priced.
This week's report
| Trader group | Long | Short | Net |
|---|---|---|---|
| Leveraged funds | 96,137 | 134,310 | −38,173 |
| Asset managers | 468,254 | 205,001 | +263,253 |
| Dealers | 54,643 | 322,221 | −267,578 |
Contracts held long, short and net as of Sep 1, 2026 (published Sep 4, 2026). Source: CFTC.
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