EUR/USD: Traders Remain Net-Short
49.5% OF TRADERS ARE NET-LONG
EURUSD: Retail trader data shows 49.5% of traders are net-long with the ratio of traders short to long at 1.02 to 1. The number of traders net-long is 13.5% higher than yesterday and 5.0% lower from last week, while the number of traders net-short is 3.2% higher than yesterday and 13.3% higher from last week.
For more in-depth analysis, check out the Q1 2019 Forecast for the Euro
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 less net-short than yesterday but more 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 Nancy Pakbaz, CFA, DailyFX Research
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.