EURUSD: Reversal May Help Euro Climb Above 1.186
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EURUSD: Reversal May Help Euro Climb Above 1.186

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EURUSD: Reversal May Help Euro Climb Above 1.186

54% of Euro Traders Are Net-Long

EURUSD: Retail trader data shows 54.2% of traders are net-long with the ratio of traders long to short at 1.18 to 1. In fact, traders have remained net-long since Apr 30 when EURUSD traded near 1.21208; price has moved 2.1% lower since then. The number of traders net-long is 6.2% lower than yesterday and 5.4% lower from last week, while the number of traders net-short is 1.7% lower than yesterday and 1.0% lower from last week.

EURUSD Trades with Bullish Bias

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

--- Written by Dylan Jusino, DailyFX Research

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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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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