EUR/USD: Web-short positions lower by 9.5% from final weekEUR/USD: Retail dealer knowledge exhibits 67.4% of merchants are net-lon
EUR/USD: Web-short positions lower by 9.5% from final week
EUR/USD: Retail dealer knowledge exhibits 67.4% of merchants are net-long with the ratio of merchants lengthy to brief at 2.07 to 1. In actual fact, merchants have remained net-long since Jul 01 when EUR/USD traded close to 1.13967; worth has moved 2.6% decrease since then. The variety of merchants net-long is 14.8% increased than yesterday and 1.7% decrease from final week, whereas the variety of merchants net-short is 6.7% decrease than yesterday and 9.5% decrease from final week.
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Present sentiment suggests bearish buying and selling bias
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests EUR/USD costs could proceed to fall. 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/USD-bearish contrarian
-Written by Tammy Da Costa, DailyFX Analysis