Variety of merchants net-short has decreased by 34.14% from final week. SYMBOL
Variety of merchants net-short has decreased by 34.14% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
EUR/JPY |
BEARISH |
50.61% |
49.39% |
22.79%
45.85% |
-22.75%
-34.14% |
-4.90%
-8.84% |
EUR/JPY: Retail dealer knowledge reveals 50.61% of merchants are net-long with the ratio of merchants lengthy to quick at 1.02 to 1. In truth, merchants have remained net-long since Oct 19 when EUR/JPY traded close to 124.10, worth has moved 1.44% decrease since then. The variety of merchants net-long is 22.79% larger than yesterday and 45.85% larger from final week, whereas the variety of merchants net-short is 22.75% decrease than yesterday and 34.14% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests EUR/JPY costs might proceed to fall.
Our knowledge reveals merchants are actually net-long EUR/JPY for the primary time since Oct 19, 2020 13:00 GMT when EUR/JPY traded close to 124.10. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date adjustments provides us a stronger EUR/JPY-bearish contrarian buying and selling bias.