Technical Analysis

EUR/USD Hits 2-week Lows, Outlook Bearish

IG Client Sentiment

Web-Lengthy Reaches its Highest since Dec12

EURUSD: Retail dealer knowledge exhibits 63.1% of merchants are net-long with the ratio of merchants lengthy to quick at 1.71 to 1. The share of merchants net-long is now its highest since Dec 12 when EURUSD traded close to 1.13724. The variety of merchants net-long is 47.7% increased than yesterday and 18.four% increased from final week, whereas the variety of merchants net-short is 32.2% decrease than yesterday and 19.6% decrease from final week.

To realize extra perception to how we use sentiment to energy our buying and selling, be part of us for our weekly Buying and selling Sentiment webinar.

EURUSD Sentiment Suggests a Bearish Bias

We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests EURUSD costs might proceed to fall. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date adjustments offers us a stronger EURUSD-bearish contrarian buying and selling bias.

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— Written by Fan Xu, DailyFX Analysis


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