Retail trader data show that 59.08% of traders are net-long with the ratio of traders long to short at 1.44 to 1.The number of traders net-long is 0.18% higher than yesterday and 4.91% higher from last week, while the number of traders net-short is 6.73% higher than yesterday and 7.54% higher 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. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current EUR/USD price trend may soon reverse higher despite the fact traders remain net-long.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD 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 EUR/USD price trend may soon reverse higher despite the fact traders remain net-long.
