EUR/USD IG Client Sentiment: Our data shows traders are now net-long EUR/USD for the first time since May 02, 2023 02:00 GMT when EUR/USD traded near 1.10.
Number of traders net-short has decreased by 8.66% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
EUR/USD: Retail trader data shows 52.61% of traders are net-long with the ratio of traders long to short at 1.11 to 1. In fact, traders have remained net-long since May 02 when EUR/USD traded near 1.10, price has moved 0.45% lower since then. The number of traders net-long is 40.80% higher than yesterday and 23.02% higher from last week, while the number of traders net-short is 17.24% lower than yesterday and 8.66% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall.
Our data shows traders are now net-long EUR/USD for the first time since May 02, 2023 02:00 GMT when EUR/USD traded near 1.10. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bearish contrarian trading bias.
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