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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.98%, while traders in France 40 are at opposite extremes with 79.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/WJB3ALH1Ft
  • RT @Yeap_IG: #IGMorningthoughts: - #VIX testing support from upward trendline - Mixed signals for jobs report tomorrow. Both #ISM #PMI empl…
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  • 🇦🇺 Balance of Trade (JUN) Actual: A$10.496B Expected: A$10.45B Previous: A$9.681B https://www.dailyfx.com/economic-calendar#2021-08-05
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  • Heads Up:🇦🇺 Balance of Trade (JUN) due at 01:30 GMT (15min) Expected: A$10.45B Previous: A$9.681B https://www.dailyfx.com/economic-calendar#2021-08-05
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  • 🇵🇭 Inflation Rate YoY (JUL) Actual: 4% Expected: 3.9% Previous: 4.1% https://www.dailyfx.com/economic-calendar#2021-08-05
  • Heads Up:🇵🇭 Inflation Rate YoY (JUL) due at 01:00 GMT (15min) Expected: 3.9% Previous: 4.1% https://www.dailyfx.com/economic-calendar#2021-08-05
Euro Reversal Still in Play Based on this

Euro Reversal Still in Play Based on this

DailyFX Research,
Euro Reversal Still in Play Based on this

Why and how do we use IG Client Sentiment in trading? See our guide.

EURUSD: Retail trader data shows 38.8% of traders are net-long with the ratio of traders short to long at 1.57 to 1. In fact, traders have remained net-short since Apr 18 when EURUSD traded near 1.06042; price has moved 2.6% higher since then. The number of traders net-long is 9.4% higher than yesterday and 12.4% higher from last week, while the number of traders net-short is 2.4% higher than yesterday and 7.1% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURUSD prices may continue to rise. Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current EURUSD price trend may soon reverse lower despite the fact traders remain net-short.

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

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