Variety of merchants net-short has decreased by 7.60% from final week. SYMBOL
Variety of merchants net-short has decreased by 7.60% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
EUR/GBP |
BEARISH |
50.47% |
49.53% |
13.65%
23.21% |
-10.40%
-7.60% |
0.31%
5.75% |
EUR/GBP: Retail dealer information reveals 50.47% of merchants are net-long with the ratio of merchants lengthy to brief at 1.02 to 1. In truth, merchants have remained net-long since Jul 22 when EUR/GBP traded close to 0.91, value has moved 0.52% decrease since then. The variety of merchants net-long is 13.65% larger than yesterday and 23.21% larger from final week, whereas the variety of merchants net-short is 10.40% decrease than yesterday and seven.60% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests EUR/GBP costs might proceed to fall.
Our information reveals merchants at the moment are net-long EUR/GBP for the primary time since Jul 22, 2020 when EUR/GBP traded close to 0.91. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date adjustments offers us a stronger EUR/GBP-bearish contrarian buying and selling bias.