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Euro May Fall Despite Net-Short Positions

Euro May Fall Despite Net-Short Positions

2017-12-11 19:00:00
Dylan Jusino,
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Euro May Fall Despite Net-Short Positions

EURUSD: Retail trader data shows 44.5% of traders are net-long with the ratio of traders short to long at 1.25 to 1. The number of traders net-long is 6.5% higher than yesterday and 15.5% higher from last week, while the number of traders net-short is 5.1% higher than yesterday and 11.8% 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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