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EUR/USD: Traders Net-Long Increase from Last Week

EUR/USD: Traders Net-Long Increase from Last Week

Nancy Pakbaz, CFA, Markets Writer
EURUSD

72.6% OF TRADERS ARE NET-LONG

EURUSD: Retail trader data shows 72.6% of traders are net-long with the ratio of traders long to short at 2.65 to 1. The number of traders net-long is 13.9% lower than yesterday and 17.1% higher from last week, while the number of traders net-short is 32.8% lower than yesterday and 56.4% lower from last week.

For more in-depth analysis, check out the Q1 2019 Forecast for the Euro

EURUSD SENTIMENT SUGGESTS BEARISH TRADING BIAS

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURUSD prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EURUSD-bearish contrarian trading bias.

Having trouble developing your strategy? Here’s the #1 mistake that traders make.

--- Written by Nancy Pakbaz, CFA, DailyFX Research

Follow Nancy on Twitter @NancyPakbazFX

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

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