Technical Analysis

EUR/USD: Merchants Improve Their Lengthy Positions

EurUsd

15% INCREASE IN NET-LONG POSITIONS FROM LAST WEEK

EURUSD: Retail dealer knowledge reveals 54.three% of merchants are net-long with the ratio of merchants lengthy to quick at 1.19 to 1. The variety of merchants net-long is 10.1% increased than yesterday and 15.zero% increased from final week, whereas the variety of merchants net-short is zero.7% decrease than yesterday and 1.four% increased from final week.

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EURUSD SUGGESTS A BEARISH BIAS

We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests EURUSD costs might 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 Nancy Pakbaz, CFA, DailyFX Analysis


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