Number of traders net-short has decreased by 18.24% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
50.43% |
49.57% |
11.85%
4.64% |
-25.70%
-18.24% |
-10.56%
-8.11% |
EUR/GBP: Retail trader data shows 50.43% 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 Dec 18 when EUR/GBP traded near 0.91, price has moved 1.18% lower since then. The number of traders net-long is 11.85% higher than yesterday and 4.64% higher from last week, while the number of traders net-short is 25.70% lower than yesterday and 18.24% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/GBP prices may continue to fall.
Our data shows traders are now net-long EUR/GBP for the first time since Dec 18, 2020 when EUR/GBP traded near 0.91. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bearish contrarian trading bias.
