EUR/USD ratio: -1.09
Trading Forecast: Bullish

EURUSD – Forex crowds have aggressively sold into Euro/US Dollar rallies, and our contrarian indicator forecasts further EUR/USD gains. The ratio of long to short positions in the EURUSD stands at -1.03 as nearly 51% of traders are short. This is a clear shift from yesterday, when the ratio was at 1.17 as 54% of open positions were long. In detail, long positions are 4.4% higher than yesterday and 22.0% stronger since last week. Short positions are 26.0% higher than yesterday and 63.2% stronger since last week. Open interest is 14.4% stronger than yesterday and 51.7% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains. Our sentiment-based forex trading signals are accordingly long the EUR/USD.