[ad_1]
Number of traders net-short has increased by 27.48% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/GBP | BULLISH | 48.26% | 51.74% |
-7.04% Daily -20.24% Weekly |
8.85% Daily 27.48% Weekly |
0.55% Daily -1.08% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -2% | 7% | 2% |
| Weekly | -15% | 31% | 3% |
EUR/GBP: Retail trader data shows 48.26% of traders are net-long with the ratio of traders short to long at 1.07 to 1. In fact, traders have remained net-short since Nov 21 when EUR/GBP traded near 0.87, price has moved 0.17% lower since then. The number of traders net-long is 7.04% lower than yesterday and 20.24% lower from last week, while the number of traders net-short is 8.85% higher than yesterday and 27.48% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/GBP prices may continue to rise.
Our data shows traders are now net-short EUR/GBP for the first time since Nov 21, 2023 when EUR/GBP traded near 0.87. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bullish contrarian trading bias.
[ad_2]
Source link
