Until Tuesday, institutions continued to cut their Euro bullish bets for 9 weeks in a row , a massive drop in Euro longs which was shown in the latest COT as of Tuesday, June 19, 2018.

The institutions net long Euro positions decreased last week by 52,107 contracts to 36,118 contracts, the biggest bearish move in Euro since I tracked from 1/1/2017

45,933 long positions were closed, and 6,174 short positions were added as well . Now Longs total 190,684contracts vs shorts total 154,566 contracts .
55% long exposure vs 45% short exposure, which 6% decreased in longs and 6% increased in shorts from the previous week

This week Euro started at 1.1744 , rallied high to 1.1852 on 6/14, then Euro had impulsive move to the downside to the low 1.1531 on 19th , closed at 1.1587 on 6/19/2018

Massive longs being closed indicates they might think more drops from 1.15s range; Some Shorts being added, which might help to protect their longs
in case that prices head even lower

We see after COT report, Euro rallied back to the high 1.1674 today on 6/22/2018, next week it might head to daily supply zone 1.1740-1.1850 that could cause some problems.

Long Term Going Bearish, Short Term Due For Limited Recovery

Please note institutions take weeks and months to build a position in the currency market. For Euro, they have built their net long positions since 5/9/2017.
Therefore, the bullish sentiment is more for long term outlook, not intended for short term trading.