EURUSD – Sharp Euro/US Dollar declines have been met with crowd buying, giving contrarian signal to stay short the currency pair. In fact, traders flipped to net-long the Euro/US Dollar as it traded below 1.4450 and gave clear signal to go short. The ratio of long to short positions in the EURUSD stands at 1.57 as nearly 61% of traders are long. Yesterday, the ratio was at 1.66 as 62% of open positions were long. In detail, long positions are 2.9% higher than yesterday and 6.3% weaker since last week. Short positions are 8.4% higher than yesterday and 4.5% weaker since last week. Open interest is 4.9% stronger than yesterday and 1.1% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD losses.
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