Variety of merchants net-short has decreased by 23.22% from final week. SYMBOL
Variety of merchants net-short has decreased by 23.22% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
EUR/JPY |
BULLISH |
46.78% |
53.22% |
-29.22%
-42.63% |
-4.98%
-23.22% |
-18.10%
-33.71% |
EUR/JPY: Retail dealer knowledge reveals 46.78% of merchants are net-long with the ratio of merchants brief to lengthy at 1.14 to 1. The truth is, merchants have remained net-short since Oct 30 when EUR/JPY traded close to 121.92, worth has moved 2.24% larger since then. The variety of merchants net-long is 29.22% decrease than yesterday and 42.63% decrease from final week, whereas the variety of merchants net-short is 4.98% decrease than yesterday and 23.22% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-short suggests EUR/JPY costs could proceed to rise.
Our knowledge reveals merchants at the moment are net-short EUR/JPY for the primary time since Oct 30, 2020 when EUR/JPY traded close to 121.92. Merchants are additional net-short than yesterday and final week, and the mixture of present sentiment and up to date modifications provides us a stronger EUR/JPY-bullish contrarian buying and selling bias.