EUR/USD: Traders Net-Long Positions Continue Above 50%
Net-Short Positions 10% Lower Than Yesterday
EURUSD: Retail trader data shows 53.5% of traders are net-long with the ratio of traders long to short at 1.15 to 1. The number of traders net-long is 6.6% higher than yesterday and 4.6% lower from last week, while the number of traders net-short is 10.1% lower than yesterday and 0.7% lower from last week.
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EUR/USD Sentiment Still Indicates Mixed Bias
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURUSD prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias.
--- Written by Yayati Tanwar, DailyFX Research
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.