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
