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EUR/USD IG Client Sentiment: Our data shows traders are now net-long EUR/USD for the first time since May 18, 2020 when EUR/USD traded near 1.09.

EUR/USD IG Client Sentiment: Our data shows traders are now net-long EUR/USD for the first time since May 18, 2020 when EUR/USD traded near 1.09.

2020-11-02 12:23:00
Research, Research Team
Share:
EUR/USD Client Positioning

Number of traders net-short has decreased by 37.76% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/USD

BEARISH

50.33%

49.67%

21.71% Daily

66.36% Weekly

6.92% Daily

-37.76% Weekly

13.89% Daily

-9.13% Weekly

EUR/USD: Retail trader data shows 50.33% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since May 18 when EUR/USD traded near 1.09, price has moved 6.72% higher since then. The number of traders net-long is 21.71% higher than yesterday and 66.36% higher from last week, while the number of traders net-short is 6.92% higher than yesterday and 37.76% 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 18, 2020 when EUR/USD traded near 1.09. 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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