Technical Analysis

EUR/USD: 53.eight% of Merchants Are Web-Lengthy

EURUSD

TRADERS CONTINUE TO HOLD NET-LONG POSITIONS

EURUSD: Retail dealer knowledge reveals 53.eight% of merchants are net-long with the ratio of merchants lengthy to brief at 1.16 to 1. The truth is, merchants have remained net-long since Jan 10 when EURUSD traded close to 1.1554; value has moved 1.zero% decrease since then. The variety of merchants net-long is zero.5% larger than yesterday and 18.9% decrease from final week, whereas the variety of merchants net-short is eight.9% larger than yesterday and eight.5% larger from final week.

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EURUSD PRICE TREND MAY SOON REVERSE

We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests EURUSD costs might proceed to fall. But merchants are much less net-long than yesterday and in contrast with final week. Latest adjustments in sentiment warn that the present EURUSD value development might quickly reverse larger regardless of the actual fact merchants stay net-long.

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— Written by Nancy Pakbaz, CFA, DailyFX Analysis


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