Variety of merchants net-short has elevated by 28.35% from final week. SYMBOL
Variety of merchants net-short has elevated by 28.35% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BULLISH |
39.13% |
60.87% |
-23.76%
-32.89% |
19.04%
28.35% |
-2.40%
-5.42% |
GBP/USD: Retail dealer information reveals 39.13% of merchants are net-long with the ratio of merchants quick to lengthy at 1.56 to 1. Our information reveals merchants at the moment are at their least net-long GBP/USD since Dec 12 when GBP/USD traded close to 1.35. The variety of merchants net-long is 23.76% decrease than yesterday and 32.89% decrease from final week, whereas the variety of merchants net-short is 19.04% increased than yesterday and 28.35% increased from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-short suggests GBP/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 adjustments offers us a stronger GBP/USD-bullish contrarian buying and selling bias.