EUR/USD IG Client Sentiment: Our data shows traders are now net-short EUR/USD for the first time since Nov 07, 2019 when EUR/USD traded near 1.11.
Number of traders net-short has increased by 22.36% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/USD: Retail trader data shows 49.70% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Nov 07 when EUR/USD traded near 1.11, price has moved 0.24% higher since then. The number of traders net-long is 4.31% lower than yesterday and 11.74% lower from last week, while the number of traders net-short is 17.23% higher than yesterday and 22.36% 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 Nov 07, 2019 when EUR/USD traded near 1.11. 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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