Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
EURUSD – The ratio of long to short positions in the EURUSD stands at -2.44 as 29% of traders are long. Yesterday the ratio was -2.11; 32% of open positions were long. Long positions are 5.5% lower than yesterday and 9.2% below levels seen last week. Short positions are 9.2% higher than yesterday and 17.4% above levels seen last week. Open interest is 4.5% higher than yesterday and 13.0% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the EURUSD may continue higher. The trading crowd has grown further net-short from yesterday and last week. The combination of current sentiment and recent changes gives a further bullish trading bias.
See next currency section: GBPUSD – British Pound Forecast to Gain on Material Shift in Positions
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
Contact David via
Twitter at https://www.twitter.com/DRodriguezFX