EUR/USD: Internet-Brief Positions Enhance by 14.4% from Final WeekEUR/USD: Retail dealer knowledge reveals 52.1% of merchants are
EUR/USD: Internet-Brief Positions Enhance by 14.4% from Final Week
EUR/USD: Retail dealer knowledge reveals 52.1% of merchants are net-long with the ratio of merchants lengthy to brief at 1.09 to 1. The truth is, merchants have remained net-long since Jul 01 when EUR/USD traded close to 1.13725; value has moved 1.3% decrease since then. The variety of merchants net-long is 1.9% decrease than yesterday and 5.5% decrease from final week, whereas the variety of merchants net-short is 10.7% larger than yesterday and 14.4% larger from final week.
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Present Sentiment Suggests Pattern could Reverse Larger Regardless of the Incontrovertible fact that Merchants Stay Internet-Lengthy
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests EUR/USD costs could proceed to fall. But merchants are much less net-long than yesterday and in contrast with final week. Latest modifications in sentiment warn that the present EUR/USD value development could quickly reverse larger regardless of the very fact merchants stay net-long.
-Written by Tammy Da Costa, DailyFX Analysis