EUR/USD IG Client Sentiment: Our data shows traders are now net-short EUR/USD for the first time since Nov 07, 2019 when EUR/USD traded near 1.11.
Number of traders net-short has increased by 22.36% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
EUR/USD | BULLISH | 49.70% | 50.30% | -4.31% Daily -11.74% Weekly | 17.23% Daily 22.36% Weekly | 5.44% Daily 2.65% Weekly |
EUR/USD: Retail trader data shows 49.70% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Nov 07 when EUR/USD traded near 1.11, price has moved 0.24% higher since then. The number of traders net-long is 4.31% lower than yesterday and 11.74% lower from last week, while the number of traders net-short is 17.23% higher than yesterday and 22.36% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/USD prices may continue to rise. Our data shows traders are now net-short EUR/USD for the first time since Nov 07, 2019 when EUR/USD traded near 1.11. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bullish contrarian trading bias.
