MXNMexican Peso

The 6-month COT Index is between 80 and 90: strongly bullish positioning. The bullish trend is still valid, but it's late. Prefer fresh entries only with strong confirmation, and watch for extreme.

Specs are strongly bullish, near the top of their 6 months range (83/100), and falling. Trend still valid but late. 6-month (83) is higher than 3-year (63): specs have bought a lot recently, but the position isn't extreme by longer history, so there may be room to run.

Over the last 4 weeks speculators have been meaningfully adding to the bullish side.

The net position fell mainly because speculators closed (sold out of) long positions, not because new sellers arrived. Longs −35.2K, shorts −28.2K. Open interest fell too: positions are being closed. Bearish for the week, but weaker than fresh shorts: bulls leaving isn't the same as bears arriving. No conviction point. It often happens as a crowded long starts to unwind.