Traders are Net-Short Suggesting EURUSD May Rise
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Traders are Net-Short Suggesting EURUSD May Rise

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Traders are Net-Short Suggesting EURUSD May Rise

EURUSD: Retail trader data shows 36.6% of traders are net-long with the ratio of traders short to long at 1.73 to 1. In fact, traders have remained net-short since Apr 18 when EURUSD traded near 1.056; price has moved 17.5% higher since then. The number of traders net-long is 5.3% higher than yesterday and 15.1% lower from last week, while the number of traders net-short is 0.1% higher than yesterday and 7.3% 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. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias.

--- 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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