Skip to Content
News & Analysis at your fingertips.
Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
Euro May Continue Trading Higher versus the US Dollar

Euro May Continue Trading Higher versus the US Dollar

David Rodriguez, Head of Product

Share:

Why and how do we use the SSI in trading? View our video and download the free trading guide here

EURUSD - The ratio of long to short positions in the EURUSD stands at -1.03 as 49% of traders are long. Yesterday the ratio was -1.14; 47% of open positions were long. Long positions are 5.1% higher than yesterday and 0.9% above levels seen last week. Short positions are 4.8% lower than yesterday and 21.2% above levels seen last week. Open interest is 0.2% lower than yesterday and 2.7% above its monthly average.

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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES