Variety of merchants net-short has decreased by 37.76% from final week. SYMBOL
Variety of merchants net-short has decreased by 37.76% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
EUR/USD |
BEARISH |
50.33% |
49.67% |
21.71%
66.36% |
6.92%
-37.76% |
13.89%
-9.13% |
EUR/USD: Retail dealer information exhibits 50.33% of merchants are net-long with the ratio of merchants lengthy to quick at 1.01 to 1. Actually, merchants have remained net-long since Could 18 when EUR/USD traded close to 1.09, value has moved 6.72% greater since then. The variety of merchants net-long is 21.71% greater than yesterday and 66.36% greater from final week, whereas the variety of merchants net-short is 6.92% greater than yesterday and 37.76% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests EUR/USD costs might proceed to fall.
Our information exhibits merchants are actually net-long EUR/USD for the primary time since Could 18, 2020 when EUR/USD traded close to 1.09. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications offers us a stronger EUR/USD-bearish contrarian buying and selling bias.