EUR/USD IG Client Sentiment: Our data shows traders are now net-long EUR/USD for the first time since Aug 27, 2021 when EUR/USD traded near 1.18.

Number of traders net-short has decreased by 15.42% from last week.

EUR/USD: Retail trader data shows 50.48% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Aug 27 when EUR/USD traded near 1.18, price has moved 0.23% higher since then. The number of traders net-long is 8.48% higher than yesterday and 18.40% higher from last week, while the number of traders net-short is 7.94% lower than yesterday and 15.42% 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.

Our data shows traders are now net-long EUR/USD for the first time since Aug 27, 2021 when EUR/USD traded near 1.18. 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.

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