Variety of merchants net-short has decreased by 18.24% from final week. SYMBOL
Variety of merchants net-short has decreased by 18.24% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
EUR/GBP |
BEARISH |
50.43% |
49.57% |
11.85%
4.64% |
-25.70%
-18.24% |
-10.56%
-8.11% |
EUR/GBP: Retail dealer knowledge reveals 50.43% of merchants are net-long with the ratio of merchants lengthy to quick at 1.02 to 1. In actual fact, merchants have remained net-long since Dec 18 when EUR/GBP traded close to 0.91, worth has moved 1.18% decrease since then. The variety of merchants net-long is 11.85% greater than yesterday and 4.64% greater from final week, whereas the variety of merchants net-short is 25.70% decrease than yesterday and 18.24% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests EUR/GBP costs could proceed to fall.
Our knowledge reveals merchants at the moment are net-long EUR/GBP for the primary time since Dec 18, 2020 when EUR/GBP traded close to 0.91. 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.