EUR/USD Shifts to a Mixed Bias
49% of Traders are Net-Long
EURUSD: Retail trader data shows 48.9% of traders are net-long with the ratio of traders short to long at 1.05 to 1. The number of traders net-long is 7.8% lower than yesterday and 1.2% higher from last week, while the number of traders net-short is 8.5% higher than yesterday and 20.7% lower from last week.
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EURUSD Sentiment Suggests a Mixed Bias
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.
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--- Written by Fan Xu, DailyFX Research
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.