Number of traders net-short has decreased by 46.75% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/USD: Retail trader data shows 50.27% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Feb 28 when EUR/USD traded near 1.10, price has moved 1.48% lower since then. The number of traders net-long is 7.86% lower than yesterday and 20.44% higher from last week, while the number of traders net-short is 11.49% lower than yesterday and 46.75% lower 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.
Our data shows traders are now net-long EUR/USD for the first time since Feb 28, 2020 when EUR/USD traded near 1.10. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bearish contrarian trading bias.