Potential for Deeper Euro Reversal Persists

| 28 september, 2017 | 0 kommentarer

Potential for Deeper Euro Reversal Persists

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EURUSD: Retail merchant information shows 41.4% of traders are net-long with a ratio of traders brief to prolonged during 1.42 to 1. In fact, traders have remained net-short given Apr 18 when EURUSD traded nearby 1.07831; cost has changed 9.3% aloft given then. The series of traders net-long is 5.3% aloft than yesterday and 18.0% aloft from final week, while a series of traders net-short is 5.3% reduce than yesterday and 11.2% reduce from final week.

We typically take a contrarian perspective to throng sentiment, and a fact traders are net-short suggests EURUSD prices might continue to rise. Yet traders are reduction net-short than yesterday and compared with final week. Recent changes in view advise that a stream EURUSD cost trend might shortly retreat reduce notwithstanding a fact traders sojourn net-short.

— Written by Christopher Vecchio, CFA, Senior Currency Strategist

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Kategori: Analys från DailyFX

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