EUR/USD IG Client Sentiment: Our data shows traders are now net-short EUR/USD for the first time since May 06, 2020 when EUR/USD traded near 1.08.

Number of traders net-short has increased by 10.47% from last week.

EUR/USD: Retail trader data shows 48.04% of traders are net-long with the ratio of traders short to long at 1.08 to 1. In fact, traders have remained net-short since May 06 when EUR/USD traded near 1.08, price has moved 1.12% higher since then. The number of traders net-long is 18.80% lower than yesterday and 30.12% lower from last week, while the number of traders net-short is 32.06% higher than yesterday and 10.47% 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 May 06, 2020 when EUR/USD traded near 1.08. 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.