EUR/USD: Retail Dealer Knowledge reveals 74.three% of Merchants are Internet-Lengthy
EUR/USD: Retail dealer information reveals 74.three% of merchants are net-long with the ratio of merchants lengthy to quick at 2.89 to 1. In reality, merchants have remained net-long since Jul 01 when EUR/USD traded close to 1.13685; worth has moved 1.9% decrease since then. The variety of merchants net-long is zero.eight% greater than yesterday and zero.four% decrease from final week, whereas the variety of merchants net-short is 1.9% decrease than yesterday and zero.7% greater from final week.
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Present Sentiment Suggests Stronger Bearish Buying and selling Bias
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests EUR/USD costs could proceed to fall. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date modifications provides us a stronger EUR/USD-bearish contrarian buying and selling bias.
-Written by Tammy Da Costa, DailyFX Analysis