A lot of traders are showing a long on EURUSD. I still believe with another spike in rates it will continue to drop.
Retail trader data show63.65% of traders are net-long with the ratio of traders long to short at 1.75 to 1. The number of traders net-long is 13.86% higher than yesterday and 6.50% higher from last week, while the number of traders net-short is 5.07% lower than yesterday and 6.70% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed EUR/USD trading bias.
Retail trader data show63.65% of traders are net-long with the ratio of traders long to short at 1.75 to 1. The number of traders net-long is 13.86% higher than yesterday and 6.50% higher from last week, while the number of traders net-short is 5.07% lower than yesterday and 6.70% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed EUR/USD trading bias.