Crowd Flips in EUR/USD, Bottom May Be Forming
EURUSD - The ratio of long to short positions in the EURUSD stands at -1.07 as 48% of traders are long. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the EURUSD may continue higher. The trading crowd has grown less net-short from yesterday but unchanged since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.
--- Written by Christopher Vecchio, Currency Strategist
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