Technical Analysis

EUR/USD: Sentiment Suggests a Combined Bias

EURUSD

TRADERS REMAINED NET-LONG SINCE FEB 04

EURUSD: Retail dealer information exhibits 66.four% of merchants are net-long with the ratio of merchants lengthy to quick at 1.98 to 1. In truth, merchants have remained net-long since Feb 04 when EURUSD traded close to 1.14345; worth has moved 1.2% decrease since then. The variety of merchants net-long is three.zero% greater than yesterday and 18.7% greater from final week, whereas the variety of merchants net-short is 13.2% greater than yesterday and 55.four% greater from final week.

For extra in-depth evaluation, try the Q1 2019 Forecast for the Euro

EURUSD PRICE TREND MAY SOON REVERSE DESPITE TRADERS REMAINING NET-LONG

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

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

— Written by Nancy Pakbaz, CFA, DailyFX Analysis

Comply with Nancy on Twitter @NancyPakbazFX


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