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Euro Forecast Grows Less Bearish on Forex Positioning
Thursday, 19 February 2009 13:41:13 GMT  |  David Rodriguez, Quantitative Analyst
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EUR/USD ratio: 1.07
Trading Forecast: Bearish

Euro US Dollar

EURUSD – The ratio of long to short positions in the EURUSD stands at 1.05 as nearly 51% of traders are long. Yesterday, the ratio was at 1.16 as 54% of open positions were long. In detail, long positions are 17.6% higher than yesterday and 49.6% stronger since last week. Short positions are 28.8% higher than yesterday and 49.7% stronger since last week. Open interest is 22.8% stronger than yesterday and 43.0% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD losses. Our sentiment-based forex trading signals have nonethelss closed their short positions on the day's rebound.  

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