Variety of merchants net-short has elevated by 86.60% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BULLISH |
28.82% |
71.18% |
-17.33%
-54.03% |
6.66%
86.60% |
-1.57%
-0.84% |
EUR/USD: Retail dealer information reveals 28.82% of merchants are net-long with the ratio of merchants quick to lengthy at 2.47 to 1. Our information reveals merchants at the moment are at their least net-long EUR/USD since Mar 05 when EUR/USD traded close to 1.12. The variety of merchants net-long is 17.33% decrease than yesterday and 54.03% decrease from final week, whereas the variety of merchants net-short is 6.66% larger than yesterday and 86.60% larger from final week.
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests EUR/USD costs could proceed to rise.
Merchants are additional net-short than yesterday and final week, and the mix of present sentiment and up to date modifications provides us a stronger EUR/USD-bullish contrarian buying and selling bias.