Hi traders i hope you are trading well. EUR/USD came to strong support so i will be monitoring what will happen and if the price will bounce from that level and change the trend direction.
I will update the analysis when the trade becomes valid.
Retail trader data shows 66.1% of traders are net-long with the ratio of traders long to short at 1.95 to 1. The percentage of traders net-long is now its highest since Jan 24 when EURUSD traded near 1.13126. The number of traders net-long is 11.9% higher than yesterday and 33.5% higher from last week, while the number of traders net-short is 16.2% lower than yesterday and 25.1% 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. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EURUSD-bearish contrarian trading bias.
I will update the analysis when the trade becomes valid.
Retail trader data shows 66.1% of traders are net-long with the ratio of traders long to short at 1.95 to 1. The percentage of traders net-long is now its highest since Jan 24 when EURUSD traded near 1.13126. The number of traders net-long is 11.9% higher than yesterday and 33.5% higher from last week, while the number of traders net-short is 16.2% lower than yesterday and 25.1% 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. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EURUSD-bearish contrarian trading bias.