Hello traders, price is consolidating for 5 days, iam more expecting the move up ( above green line and previous daily high ) and then execute the trade when everything lines up. This upcoming week we have several high impact news for EUR and USD so be careful and do not chase the trade.
Contrarian view:
Retail trader data shows 69.2% of traders are net-long with the ratio of traders long to short at 2.25 to 1. In fact, traders have remained net-long since Feb 04 when EURUSD traded near 1.14345; price has moved 1.4% lower since then. The number of traders net-long is 10.7% lower than yesterday and 5.5% higher from last week, while the number of traders net-short is 9.3% lower than yesterday and 8.8% lower from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURUSD prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further MIXED EURUSD trading bias.
Contrarian view:
Retail trader data shows 69.2% of traders are net-long with the ratio of traders long to short at 2.25 to 1. In fact, traders have remained net-long since Feb 04 when EURUSD traded near 1.14345; price has moved 1.4% lower since then. The number of traders net-long is 10.7% lower than yesterday and 5.5% higher from last week, while the number of traders net-short is 9.3% lower than yesterday and 8.8% lower from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURUSD prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further MIXED EURUSD trading bias.
Comment:
EUR/USD broke the green line and its on the way up