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Recent Developments in Trader Sentiment May Push Euro Lower

Recent Developments in Trader Sentiment May Push Euro Lower

Dylan Jusino,
Recent Developments in Trader Sentiment May Push Euro Lower

EURUSD: Retail trader data shows 38.4% of traders are net-long with the ratio of traders short to long at 1.61 to 1. The number of traders net-long is 30.0% higher than yesterday and 12.2% higher from last week, while the number of traders net-short is 4.3% higher than yesterday and 15.0% 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.

--- Written by Dylan Jusino, DailyFX Research

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

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