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EUR/USD: 65.3% of Traders Are Net-Long

EUR/USD: 65.3% of Traders Are Net-Long

Nancy Pakbaz, CFA, Markets Writer
EURUSD

NUMBER OF NET-LONG TRADERS INCREASE BY 18% FROM YESTERDAY

EURUSD: Retail trader data shows 65.3% of traders are net-long with the ratio of traders long to short at 1.88 to 1. In fact, traders have remained net-long since Mar 01 when EURUSD traded near 1.13624; price has moved 1.1% lower since then. The number of traders net-long is 18.0% higher than yesterday and 41.8% higher from last week, while the number of traders net-short is 13.3% lower than yesterday and 17.3% lower from last week.

EURUSD SENTIMENT A STRONG BEARISH 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.

To gain more insight in how we use sentiment to supplement a strategy, join us for one of our weekly webinars on how to “Identify Trends with Sentiment”:

Tuesday 20:00 GMT

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(click on one of the above times to enroll)

--- 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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