The ratio of long to short positions in the EURUSD stands at 1.58 as nearly 61% of traders are long. Yesterday, the ratio was at 1.17 as 54% of open positions were long. In detail, long positions are 16.0% higher than yesterday and 21.3% stronger since last week. Short positions are 14.5% lower than yesterday and 28.5% weaker since last week. Open interest is 1.9% stronger than yesterday and 0.9% below its monthly average. The SSI is a contrarian indicator and signals more EURUSD losses.
How do we interpret and trade with the SSI? Watch an FXCM Expo Presentation that explains the SSI.
--- Written by Christopher Vecchio, Currency Analyst for DailyFX.com
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