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France 40 IG Client Sentiment: Our data shows traders are now net-short France 40 for the first time since Jul 22, 2020 when France 40 traded near 5,047.30.

France 40 IG Client Sentiment: Our data shows traders are now net-short France 40 for the first time since Jul 22, 2020 when France 40 traded near 5,047.30.

2020-08-06 08:23:00
Research, Research Team
Share:
France 40 Client Positioning

Number of traders net-short has increased by 50.83% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

France 40

BULLISH

48.40%

51.60%

0.59% Daily

-19.00% Weekly

62.28% Daily

50.83% Weekly

25.13% Daily

6.42% Weekly

France 40: Retail trader data shows 48.40% of traders are net-long with the ratio of traders short to long at 1.07 to 1. In fact, traders have remained net-short since Jul 22 when France 40 traded near 5,047.30, price has moved 2.66% lower since then. The number of traders net-long is 0.59% higher than yesterday and 19.00% lower from last week, while the number of traders net-short is 62.28% higher than yesterday and 50.83% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests France 40 prices may continue to rise.

Our data shows traders are now net-short France 40 for the first time since Jul 22, 2020 when France 40 traded near 5,047.30. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger France 40-bullish contrarian trading bias.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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