The ratio of long to short positions in the EURUSD stands at -1.20 as nearly 55% of traders are short, according to the FXCM execution desk data on the positioning of more than 22.000 retail traders. In detail, long positions are 3.6% higher than yesterday and 10.5% stronger since last week. Short positions are 7.2% higher than yesterday and 4.0% stronger since last week. Open interest is 5.5% stronger than yesterday and 11.2% above its monthly average. In the past, when retail was short and selling more, the EURUSD has rallied in the following days and we believe the euro will recover to test the November 23rd high at 1.4967.
For information on an FXCM Managed Fund that takes advantage of the SSI, please review our Sentiment Fund at: http://www.FXCMManagedFunds.com or call +1 646-432-2968