Our data shows traders are now at their least net-long EUR/CHF since Nov 20 when EUR/CHF traded near 1.08.

Our data shows traders are now at their least net-long EUR/CHF since Nov 20 when EUR/CHF traded near 1.08.

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%
Daily

-0.84%
Weekly

8.59%
Daily

27.34%
Weekly

-4.22%
Daily

14.34%
Weekly

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

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