Our data shows traders are now net-long EUR/USD for the first time since Feb 05, 2021 when EUR/USD traded near 1.20.

Our data shows traders are now net-long EUR/USD for the first time since Feb 05, 2021 when EUR/USD traded near 1.20.

Number of traders net-short has decreased by 24.61% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/USD

BEARISH

50.45%

49.55%

18.52%
Daily

22.72%
Weekly

-9.19%
Daily

-24.61%
Weekly

2.96%
Daily

-6.40%
Weekly

EUR/USD: Retail trader data shows 50.45% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Feb 05 when EUR/USD traded near 1.20, price has moved 0.01% lower since then. The number of traders net-long is 18.52% higher than yesterday and 22.72% higher from last week, while the number of traders net-short is 9.19% lower than yesterday and 24.61% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD prices may continue to fall.

Our data shows traders are now net-long EUR/USD for the first time since Feb 05, 2021 when EUR/USD traded near 1.20. 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.

Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2021/02/18/EURUSD-IG-Client-Sentiment-0123.html
By: Research

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