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FXCM SSI - Contrarian Traders Target EURUSD Above 1.41

Thursday, 20 September 2007 14:46:53 GMT

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Written by Antonio Sousa, Currency Analyst
According to a sample of more than 20.000 traders the ratio of long to short positions in the EURUSD stands at negative 2.89 as nearly 74% of traders are short EURUSD. In detail, long positions are 5.0% lower than yesterday and 15.3% weaker since last week. Short positions are 3.4% higher than yesterday and 0.3% weaker since last week. Moreover, open interest is 1.1% stronger than yesterday and 5.1% above its monthly average. In the past, when retail was short and selling more, the EURUSD has rallied in the following days and we may see a test to 1.41 in the week ahead.

 

EURUSD – Contrarian Traders Target EURUSD Above 1.41

GBPUSD – The Ratio of Long to Short positions in the Sterling is Close to Parity

USDJPY  – Carry Traders Make 63 Percent of the Total

USDCHF – Positions Outstanding Rise Nearly 38 Percent

USDCAD – Nearly 85 percent of traders are long USDCAD

 

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