EUR/USD IG Client Sentiment: Our data shows traders are now net-short EUR/USD for the first time since Jun 16, 2021 when EUR/USD traded near 1.20.
Number of traders net-short has increased by 30.87% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/USD: Retail trader data shows 48.51% of traders are net-long with the ratio of traders short to long at 1.06 to 1. In fact, traders have remained net-short since Jun 16 when EUR/USD traded near 1.20, price has moved 0.55% lower since then. The number of traders net-long is 1.14% lower than yesterday and 18.59% lower from last week, while the number of traders net-short is 20.49% higher than yesterday and 30.87% 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.
Our data shows traders are now net-short EUR/USD for the first time since Jun 16, 2021 when EUR/USD traded near 1.20. 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.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.