Net-Short Trades up 11.9% Since Yesterday
EURUSD: Retail trader data shows 56.9% of traders are net-long with the ratio of traders long to short at 1.32 to 1. The number of traders net-long is 0.8% lower than yesterday and 9.4% higher from last week, while the number of traders net-short is 11.9% higher than yesterday and 2.5% lower from last week.
Euro Continues to Trade With Mixed Bias
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURUSD prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias.
--- Written by Abdullah AlAmoudi, DailyFX Research