Sentiment Warns Against Chasing Euro Strength
Trading crowds remain sharply net-short the euro against the US Dollar, giving contrarian signal that the EURUSD could yet challenge further highs. The ratio of long to short positions in the EURUSD stands at -1.59 as approximately 61% of traders are short. Yet it serves to note that this is a moderation from yesterday when 67% were short, and long positions are up a noteworthy 20.4 percent overnight. Short positions are roughly unchanged (-3.6%), but the potentially significant shift in sentiment warns against chasing EURUSD strength.
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