EUR/USD IG Client Sentiment: Our data shows traders are now at their least net-long EUR/USD since May 29 when EUR/USD traded near 1.11.
Number of traders net-short has increased by 1.52% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/USD: Retail trader data shows 27.68% of traders are net-long with the ratio of traders short to long at 2.61 to 1. Our data shows traders are now at their least net-long EUR/USD since May 29 when EUR/USD traded near 1.11. The number of traders net-long is 19.04% lower than yesterday and 19.22% lower from last week, while the number of traders net-short is 15.06% higher than yesterday and 1.52% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/USD prices may continue to rise.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bullish contrarian trading bias.
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