Monday, 26 August 2019 02:47 GMT
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EUR/USD: Net-Long Positions Continue to Rise Suggesting Trend may Reverse Shortly




(MENAFN - DailyFX) EUR/USD IG Client Sentiment EUR/USD: Net-Long Positions Increase by 23.3% from Last Week

EUR/USD: Retail trader data shows 65.3% of traders are net-long with the ratio of traders long to short at 1.88 to 1. In fact, traders have remained net-long since Jul 01 whenEUR/USDtraded near 1.129; price has moved 0.1% lower since then. The number of traders net-long is 2.8% lower than yesterday and 23.3% higher from last week, while the number of traders net-short is 0.5% lower than yesterday and 18.0% lower from last week.

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Current Sentiment Suggests Further Bearish Trading Bias

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/USD 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 EUR/USD trading bias.

-Written by Tammy Da Costa, DailyFX Research

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EUR/USD: Net-Long Positions Continue to Rise Suggesting Trend may Reverse Shortly

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