Number of merchants net-short has elevated by 52.73% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
EUR/USD |
BULLISH |
47.61% |
52.39% |
-11.97%
-35.84% |
3.08%
52.73% |
-4.68%
-7.84% |
EUR/USD: Retail dealer information exhibits 47.61% of merchants are net-long with the ratio of merchants quick to lengthy at 1.10 to 1. In reality, merchants have remained net-short since Jan 14 when EUR/USD traded close to 1.14, value has moved 0.06% decrease since then. The variety of merchants net-long is 11.97% decrease than yesterday and 35.84% decrease from final week, whereas the variety of merchants net-short is 3.08% increased than yesterday and 52.73% increased from final week.
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests EUR/USD costs might proceed to rise.
Our information exhibits merchants are actually net-short EUR/USD for the primary time since Jan 14, 2022 when EUR/USD traded close to 1.14. Traders are additional net-short than yesterday and final week, and the mixture of present sentiment and up to date adjustments offers us a stronger EUR/USD-bullish contrarian buying and selling bias.
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