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Abstract:Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bearish contrarian trading bias.
Number of traders net-short has decreased by 23.72% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
EUR/USD | BEARISH | 64.34% | 35.66% | 12.97% Daily25.60% Weekly | -21.73% Daily-23.72% Weekly | -2.46% Daily2.07% Weekly |
EUR/USD: Retail trader data shows 64.34% of traders are net-long with the ratio of traders long to short at 1.80 to 1. Our data shows traders are now at their most net-long EUR/USD since Jul 22 when EUR/USD traded near 1.18. The number of traders net-long is 12.97% higher than yesterday and 25.60% higher from last week, while the number of traders net-short is 21.73% lower than yesterday and 23.72% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD 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 EUR/USD-bearish contrarian trading bias.
Disclaimer:
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