Number of traders net-short has increased by 27.34% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
EUR/CHF | BULLISH | 40.00% | 60.00% | -18.62% -0.84% | 8.59% 27.34% | -4.22% 14.34% |
EUR/CHF: Retail trader data shows 40.00% of traders are net-long with the ratio of traders short to long at 1.50 to 1. Our data shows traders are now at their least net-long EUR/CHF since Nov 20 when EUR/CHF traded near 1.08. The number of traders net-long is 18.62% lower than yesterday and 0.84% lower from last week, while the number of traders net-short is 8.59% higher than yesterday and 27.34% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/CHF prices may continue to rise.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/CHF-bullish contrarian trading bias.
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Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2021/03/05/EURCHF-IG-Client-Sentiment-1323.html
By: Research
