EUR/USD Traders remain net-long
Retail trader data shows 59.3% of traders are net-long with the ratio of traders long to short at 1.46 to 1. In fact, traders have remained net-long since Feb 04 when EURUSD traded near 1.14537; price has moved 0.9% lower since then. The number of traders net-long is 0.1% higher than yesterday and 18.5% lower from last week, while the number of traders net-short is 7.3% higher than yesterday and 10.6% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURUSD prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current EURUSD price trend may soon reverse higher despite the fact traders remain net-long.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURUSD prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current EURUSD price trend may soon reverse higher despite the fact traders remain net-long.
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