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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 27.17% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
---|---|---|---|---|---|---|
EUR/USD | BEARISH | 50.21% | 49.79% | 50.04% Daily37.59% Weekly | -23.29% Daily-27.17% Weekly | 1.66% Daily-4.63% Weekly |
EUR/USD: Retail trader data shows 50.21% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Nov 10 when EUR/USD traded near 1.02, price has moved 3.51% higher since then. The number of traders net-long is 50.04% higher than yesterday and 37.59% higher from last week, while the number of traders net-short is 23.29% lower than yesterday and 27.17% 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 Nov 10, 2022 when EUR/USD traded near 1.02. 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:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.