Variety of merchants net-short has decreased by 25.87% from final week. SYMBOL
Variety of merchants net-short has decreased by 25.87% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
EUR/JPY |
BEARISH |
50.88% |
49.12% |
50.20%
37.50% |
-3.99%
-25.87% |
17.60%
-3.16% |
EUR/JPY: Retail dealer knowledge exhibits 50.88% of merchants are net-long with the ratio of merchants lengthy to brief at 1.04 to 1. In truth, merchants have remained net-long since Jul 10 when EUR/JPY traded close to 120.79, value has moved 3.35% larger since then. The variety of merchants net-long is 50.20% larger than yesterday and 37.50% larger from final week, whereas the variety of merchants net-short is 3.99% decrease than yesterday and 25.87% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests EUR/JPY costs might proceed to fall.
Our knowledge exhibits merchants are actually net-long EUR/JPY for the primary time since Jul 10, 2020 when EUR/JPY traded close to 120.79. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date modifications offers us a stronger EUR/JPY-bearish contrarian buying and selling bias.