EUR/USD IG Client Sentiment: Our data shows traders are now net-short EUR/USD for the first time since Feb 20, 2023 21:00 GMT when EUR/USD traded near 1.07.
Number of traders net-short has increased by 10.33% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
EUR/USD: Retail trader data shows 48.97% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Feb 20 when EUR/USD traded near 1.07, price has moved 0.26% lower since then. The number of traders net-long is 7.43% lower than yesterday and 10.85% lower from last week, while the number of traders net-short is 6.71% higher than yesterday and 10.33% 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 Feb 20, 2023 21:00 GMT when EUR/USD traded near 1.07. 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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