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EURUSD: Net-Long Positions Decreased by 20.3% from Last Week

EURUSD: Net-Long Positions Decreased by 20.3% from Last Week

Nancy Pakbaz, CFA, Markets Writer
eurusd

PRICE MOVED 0.3% LOWER SINCE APRIL 12

EURUSD: Retail trader data shows 51.1% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Apr 12 when EURUSD traded near 1.12763; price has moved 0.3% lower since then. The number of traders net-long is 7.2% lower than yesterday and 20.3% lower from last week, while the number of traders net-short is 6.8% higher than yesterday and 10.6% 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":

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EURUSD SENTIMENT WARN THAT PRICE TREND MAY SOON REVERSE

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURUSD prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current EURUSD price trend may soon reverse higher despite the fact traders remain net-long.

--- 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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