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EUR/USD and EUR/GBP Latest Retail Sentiment Analysis

EUR/USD and EUR/GBP Latest Retail Sentiment Analysis

Nick Cawley, Senior Strategist

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EUR/USD and EUR/GBP Latest Retail Sentiment Analysis

  • EUR/USD – Big Jump in Weekly Longs.
  • EUR/GBP Traders Remain Long but Shorts Increase.
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EUR/USD – Mixed Outlook

According to the latest IG retail trader data, 54.49% of traders hold a net-long position, with the ratio of long to short traders at 1.20 to 1. The number of net-long traders has decreased by 0.84% compared to the previous day but has increased by 34.83% compared to last week. On the other hand, the number of net-short traders has increased by 7.36% from yesterday but has decreased by 4.00% from last week.

Our approach typically contrasts with crowd sentiment, and the fact that traders are net-long suggests that EUR/USD prices may continue to fall. However, the current positioning is less net-long than yesterday but more net-long compared to last week. This combination of current sentiment and recent changes presents a mixed trading bias for the EUR/USD pair.

EUR/USD Daily Price Chart

image1.png
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EUR/GBP – Traders Heavily Long

The latest IG retail trader data reveals that 73.13% of traders are maintaining a net-long position, with the ratio of long to short traders standing at 2.72 to 1. While the number of net-long traders has increased by 1.73% compared to the previous day, it has decreased by 6.71% from last week. In contrast, the number of net-short traders has decreased by 3.00% from yesterday but has increased by 48.09% from last week.

Our strategy typically involves taking a contrarian view to crowd sentiment, and the fact that traders are net-long suggests that EUR/GBP prices may continue to decline. However, the positioning is more net-long than yesterday but less net-long compared to last week. This combination of current sentiment and recent changes presents a mixed trading bias for the EUR/GBP pair.

EUR/GBP Daily Chart

image2.png
EUR/GBP Mixed
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -3% 2% -2%
Weekly 9% 0% 6%
What does it mean for price action?
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All charts using TradingView

What is your view on the EURO – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

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

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