65.7% OF TRADERS ARE NET-LONG
EURUSD: Retail dealer knowledge exhibits 65.7% of merchants are net-long with the ratio of merchants lengthy to brief at 1.91 to 1. In truth, merchants have remained net-long since Jan 10 when EURUSD traded close to 1.1554; value has moved 1.6% decrease since then. The share of merchants net-long is now its highest since Dec 31 when EURUSD traded close to 1.1464. The variety of merchants net-long is 2.zero% increased than yesterday and 27.2% increased from final week, whereas the variety of merchants net-short is eight.2% decrease than yesterday and four.three% increased from final week.
To achieve extra perception to how we use sentiment to energy our buying and selling, be a part of us for our weekly Buying and selling Sentiment webinar.
EURUSD SENTIMENT CONTINUES TO SUGGEST 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 provides us a stronger EURUSD-bearish contrarian buying and selling bias.
Having hassle growing your technique? Right here’s the #1 mistake that merchants make.
— Written by Nancy Pakbaz, CFA, DailyFX Analysis