60% of Retail Merchants are Web-Lengthy
EURUSD: Retail dealer information reveals 59.eight% of merchants are net-long with the ratio of merchants lengthy to quick at 1.49 to 1. The variety of merchants net-long is 11.four% larger than yesterday and 31.eight% larger from final week, whereas the variety of merchants net-short is 11.2% decrease than yesterday and 21.7% decrease from final week.
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EUR/USD Sentiment Suggests a Bearish Bias
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests EURUSD 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 EURUSD-bearish contrarian buying and selling bias.
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— Written by Jake Schoenleb, DailyFX Analysis