Speculative euro shorts cover, euro rebounds

ZeroHedge has a post up with charts using the Commitment of Traders report from the CFTC, which has the open contracts from the Chicago Mercantile Exchange: COT Weekly Data Discloses Biggest Euro Short Covering Episode In History

I wanted to compare the data in that chart, which shows the net speculative position (non-commercial longs minus non-commercial shorts), with the price of CurrencyShares Euro (FXE). Here's what it looks like:

What's interesting to me is that the massive amount of short covering resulted in such a weak move in the euro.

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