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Euro Traders Remain Long as Pair tests Key Low

Euro Traders Remain Long as Pair tests Key Low

David Rodriguez, Head of Product
Euro Traders Remain Long as Pair tests Key Low

Why and how do we use IG Client Sentiment in trading? See our guide and real-time data.

EURUSD: Retail trader data shows 57.8% of traders are net-long with the ratio of traders long to short at 1.37 to 1. In fact, traders have remained net-long since May 15 when EURUSD traded near 1.12056; price has moved 0.2% lower since then. The number of traders net-long is 14.4% lower than yesterday and 8.0% lower from last week, while the number of traders net-short is 0.8% lower than yesterday and 7.7% lower from last week.

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.

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

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