EUR/USD IG Client Sentiment: Our data shows traders are now net-long EUR/USD for the first time since Oct 16, 2019 when EUR/USD traded near 1.11.
Number of traders net-short has decreased by 11.12% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/USD: Retail trader data shows 51.66% of traders are net-long with the ratio of traders long to short at 1.07 to 1. In fact, traders have remained net-long since Oct 16 when EUR/USD traded near 1.11, price has moved 0.05% lower since then. The number of traders net-long is 15.24% higher than yesterday and 7.70% higher from last week, while the number of traders net-short is 20.54% lower than yesterday and 11.12% 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 Oct 16, 2019 when EUR/USD traded near 1.11. 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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