I subscribe to Investica and they will say, from time to time, there are 18,000 long contracts on the Euro or 26,000 contracts, or whatever it might be.
What is a contract? Is there a specific quantity of money connected to 1 contract- such as one contract equals $100,000? Are contracts related to market makers or does it comprise the retail traders like people? Can be a contract on a particular currency rather than a currency pair?
Let's state that Investica says that there are estimated to be 26,000 long contracts on the Euro. They will then state that with this many long contracts out there, the Euro will fight to make headway. Why would a large number of contracts in favor of the currency actually interfere with it?
Thank you for any insight anyone can offer