Number of traders net-short has decreased by 37.76% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
50.33% |
49.67% |
21.71%
66.36% |
6.92%
-37.76% |
13.89%
-9.13% |
EUR/USD: Retail trader data shows 50.33% 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 May 18 when EUR/USD traded near 1.09, price has moved 6.72% higher since then. The number of traders net-long is 21.71% higher than yesterday and 66.36% higher from last week, while the number of traders net-short is 6.92% higher than yesterday and 37.76% 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 May 18, 2020 when EUR/USD traded near 1.09. 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.
