EUR/USD: Retail trader data shows 51.68% of traders are net-long with the ratio of traders long to short at 1.07 to 1. In fact, traders have remained net-long since Jul 06 when EUR/USD traded near 1.09, price has moved 0.95% higher since then. The number of traders net-long is 3.24% higher than yesterday and 61.51% higher from last week, while the number of traders net-short is 20.53% lower than yesterday and 38.15% 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 Jul 06, 2023 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.
EURUSD
SELL 1.1000 - 1.1020
TP1: 1.0970
TP2: 1.0930
SL: 1.1070
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 Jul 06, 2023 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.
EURUSD
SELL 1.1000 - 1.1020 TP1: 1.0970
TP2: 1.0930
SL: 1.1070
