Technical Analysis

EUR/USD Suggests a Bearish Bias

EurUsd

NET-LONG POSITIONS INCREASED FROM LAST WEEK

EURUSD: Retail dealer information exhibits 55.1% of merchants are net-long with the ratio of merchants lengthy to quick at 1.23 to 1. The variety of merchants net-long is eight.7% larger than yesterday and 9.1% larger from final week, whereas the variety of merchants net-short is eight.eight% decrease than yesterday and eight.1% decrease from final week.

For extra in-depth evaluation, take a look at the Q1 2019 Forecast for the Euro

EURUSD PRICE MAY CONTINUE TO FALL

We usually 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.

Having bother growing your technique? Right here’s the #1 mistake that merchants make.

— Written by Nancy Pakbaz, CFA, DailyFX Analysis

Observe Nancy on Twitter @NancyPakbazFX


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