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EURUSD: Sentiment Signals Prices May Continue to Fall

EURUSD: Sentiment Signals Prices May Continue to Fall

Nancy Pakbaz, CFA, Markets Writer
EURUSD

NET-LONG POSITIONS DECREASE BY 28.8% FROM LAST WEEK

EURUSD: Retail trader data shows 52.6% of traders are net-long with the ratio of traders long to short at 1.11 to 1. The number of traders net-long is 1.5% higher than yesterday and 28.8% lower from last week, while the number of traders net-short is 3.6% lower than yesterday and 22.4% higher from last week.

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":

Wednesday 00:00 GMT

Wednesday 12:30 GMT

Thursday 21:00 GMT

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(click on one of the above times to enroll)

EURUSD SENTIMENT CONTINUES TO SUGGEST A 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.

--- 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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