Over 57% of Retail Merchants are Internet-Lengthy Regardless of Current Value Motion
EURUSD: Retail dealer knowledge reveals 57.5% of merchants are net-long with the ratio of merchants lengthy to brief at 1.35 to 1. Actually, merchants have remained net-long since Nov 23 when EURUSD traded close to 1.14026; worth has moved zero.5% decrease since then. The variety of merchants net-long is zero.2% decrease than yesterday and 17.1% decrease from final week, whereas the variety of merchants net-short is 11.four% decrease than yesterday and eight.zero% decrease from final week.
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EUR/USD Sentiment Is Unable to Present a Clear Path
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests EURUSD costs could proceed to fall. Positioning is extra net-long than yesterday however much less net-long from final week. The mix of present sentiment and up to date adjustments provides us an additional blended EURUSD buying and selling bias.
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— Written by Jake Schoenleb, DailyFX Analysis