Variety of merchants net-short has decreased by 12.20% from final week. SYMBOL
Variety of merchants net-short has decreased by 12.20% from final week.
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
EUR/GBP |
BEARISH |
50.10% |
49.90% |
30.87%
49.13% |
-2.67%
-12.20% |
11.67%
10.58% |
EUR/GBP: Retail dealer information reveals 50.10% of merchants are net-long with the ratio of merchants lengthy to brief at 1.00 to 1. In truth, merchants have remained net-long since Jun 11 when EUR/GBP traded close to 0.90, value has moved 0.42% larger since then. The variety of merchants net-long is 30.87% larger than yesterday and 49.13% larger from final week, whereas the variety of merchants net-short is 2.67% decrease than yesterday and 12.20% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the actual 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 Jun 11, 2020 when EUR/GBP traded close to 0.90. 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/GBP-bearish contrarian buying and selling bias.