News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
IG Client Sentiment Shows Traders Sell into EURUSD Gains

IG Client Sentiment Shows Traders Sell into EURUSD Gains

David Rodriguez, Head of Product

IG Client Sentiment data shows that traders remain steadily net-short the Euro versus the US Dollar, and indeed a recent build in short positions further cements our call for further EURUSD gains.

Euro Sentiment Chart

Euro Sentiment Chart Shows Traders Selling

EURUSD: Retail trader data shows 34.8% of traders are net-long with the ratio of traders short to long at 1.87 to 1. The number of traders net-long is 9.9% lower than yesterday and 15.0% lower from last week, while the number of traders net-short is 18.2% higher than yesterday and 23.1% 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. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EURUSD-bullish contrarian trading bias.

--- Written by David Rodriguez, Senior Strategist for DailyFX.com

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

DISCLOSURES