| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/USD | BEARISH | 50.11% | 49.89% |
8.76%Daily 17.71%Weekly |
-14.97%Daily -21.81%Weekly |
-4.53%Daily -6.00%Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 2% | -11% | -5% |
| Weekly | 16% | -20% | -6% |
EUR/USD: Retail trader data shows 50.11% of traders are net-long with the ratio of traders long to short at 1.00 to 1.In fact, traders have remained net-long since Nov 14 when EUR/USD traded near 1.09, price has moved 0.18% lower since then. The number of traders net-long is 8.76% higher than yesterday and 17.71% higher from last week, while the number of traders net-short is 14.97% lower than yesterday and 21.81% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USDprices may continue to fall.
Our data shows traders are now net-long EUR/USD for the first time since Nov 14, 2023 when EUR/USD traded near 1.09. 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.
Source https://www.dailyfx.com/analysis/EURUSD-IG-Client-Sentiment-202312011623.html
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