Variety of merchants net-short has decreased by 21.31% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
50.76% |
49.24% |
58.39%
167.90% |
-25.35%
-21.31% |
2.03%
22.67% |
EUR/GBP: Retail dealer information reveals 50.76% of merchants are net-long with the ratio of merchants lengthy to quick at 1.03 to 1. In truth, merchants have remained net-long since Feb 28 when EUR/GBP traded close to 0.86, value has moved 2.18% greater since then. The variety of merchants net-long is 58.39% greater than yesterday and 167.90% greater from final week, whereas the variety of merchants net-short is 25.35% decrease than yesterday and 21.31% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests EUR/GBP costs could proceed to fall.
Our information reveals merchants are actually net-long EUR/GBP for the primary time since Feb 28, 2020 when EUR/GBP traded close to 0.86. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications provides us a stronger EUR/GBP-bearish contrarian buying and selling bias.