Bearish Reversal in Play for the Euro
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Bearish Reversal in Play for the Euro

DailyFX.com -

Bearish Reversal in Play for the Euro

EURUSD: Retail trader data shows 31.5% of traders are net-long with the ratio of traders short to long at 2.18 to 1. The percentage of traders net-long is now its highest since Dec 25 when EURUSD traded near 1.18706. The number of traders net-long is 28.1% higher than yesterday and 67.7% higher from last week, while the number of traders net-short is 4.0% lower than yesterday and 4.5% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURUSD prices may continue to rise. Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current EURUSD price trend may soon reverse lower despite the fact traders remain net-short.

--- Written by Dylan Jusino, DailyFX Research

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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