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  • These companies are all set to report earnings next week. Which of the reports has the most market-moving potential?
  • The Dow and S&P500 edge slightly back into the green in afternoon trading, joining the Nasdaq. The Russell 2000 remains in the red. DOW +0.03% NDX +0.49% SPX +0.07% RUT -0.81% $DOW $QQQ $SPY $IWM
  • $EURUSD is up slightly today after no changes in the ECB's policy stance, rising from around 1.2120 to currently trade around 1.2150. The pair remains notably off the 1.2300 levels hit earlier this month. $EUR $USD https://t.co/prVZJHYeet
  • Risk trends have definitely throttled back today suggest, which further suggests yesterday was a relief rally. But there remains a notable pace advantage of the tech-based Nasdaq to broader $SPX. Still the core of speculative appetite chasing momentum https://t.co/Mbinh0d0vS
  • ECB is said to be seeking new gauges to help with stimulus decisions - BBG. #ECB $EUR
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 71.02%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/3l38C71A5Y
  • The price of gold turned sharply higher Wednesday, aided by a weaker US dollar, and the precious metal is now running into a cluster of resistance which may prove tricky to overcome in the short-term. Get your $XAUUSD market update from @nickcawley1 here:https://t.co/QXImirPhig https://t.co/7NHSYSG6wr
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Silver: -0.38% Gold: -0.46% Oil - US Crude: -0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/wjD8G0OKGh
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.42% 🇨🇭CHF: 0.31% 🇪🇺EUR: 0.28% 🇦🇺AUD: -0.01% 🇯🇵JPY: -0.06% 🇨🇦CAD: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/p6eJQtcP7a
Euro Traders Stop Selling - Watch the Next Move

Euro Traders Stop Selling - Watch the Next Move

David Rodriguez, Head of Product
Euro Traders Stop Selling - Watch the Next Move

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

EURUSD: Retail trader data shows 28.6% of traders are net-long with the ratio of traders short to long at 2.5 to 1. In fact, traders have remained net-short since Apr 18 when EURUSD traded near 1.06524; price has moved 10.6% higher since then. The number of traders net-long is 16.3% higher than yesterday and 22.9% higher from last week, while the number of traders net-short is 16.4% higher than yesterday and 0.9% higher 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. Positioning is more net-short than yesterday but less net-short from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias.

See next article in this week’s report: GBPUSD - British Pound Direction Uncertain, but Trend Favors Gains

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

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