Our data shows traders are now net-short EUR/CHF for the first time since Dec 28, 2020 when EUR/CHF traded near 1.09.

Our data shows traders are now net-short EUR/CHF for the first time since Dec 28, 2020 when EUR/CHF traded near 1.09.

Number of traders net-short has increased by 46.74% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/CHF

BULLISH

49.81%

50.19%

-19.76%
Daily

-29.84%
Weekly

29.81%
Daily

46.74%
Weekly

-0.74%
Daily

-4.95%
Weekly

EUR/CHF: Retail trader data shows 49.81% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Dec 28 when EUR/CHF traded near 1.09, price has moved 0.01% higher since then. The number of traders net-long is 19.76% lower than yesterday and 29.84% lower from last week, while the number of traders net-short is 29.81% higher than yesterday and 46.74% 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.

Our data shows traders are now net-short EUR/CHF for the first time since Dec 28, 2020 when EUR/CHF traded near 1.09. 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.

Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2021/02/19/EURCHF-IG-Client-Sentiment-1623.html
By: Research

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