Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,168.07
    -594.66 (-1.46%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Bitcoin USD

    70,816.12
    +1,688.30 (+2.44%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,251.71
    +3.22 (+0.06%)
     
  • Dow

    39,766.33
    +6.25 (+0.02%)
     
  • Nasdaq

    16,385.03
    -14.50 (-0.09%)
     
  • Gold

    2,245.40
    +32.70 (+1.48%)
     
  • Crude Oil

    82.82
    +1.47 (+1.81%)
     
  • 10-Yr Bond

    4.1960
    0.0000 (0.00%)
     
  • FTSE Bursa Malaysia

    1,530.60
    -7.82 (-0.51%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

Forex Trader Sentiment Points to Further Euro Gains

DailyFX.com -

Forex Trader Sentiment Points to Further Euro Gains
Forex Trader Sentiment Points to Further Euro Gains

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

EURUSD Retail traders remain aggressively short the Euro versus the US Dollar, and a contrarian view of crowd sentiment leaves us watching for continued strength.

The ratio of long to short positions in the EURUSD stands at -2.00 as 33% of traders are long. Yesterday the ratio was -2.06; 33% of open positions were long. Long positions are 4.1% lower than yesterday and 5.5% below levels seen last week. Short positions are 6.9% lower than yesterday and 21.8% above levels seen last week. Open interest is 6.0% lower than yesterday and 7.3% 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.

ADVERTISEMENT

See next currency section: GBPUSD - British Pound Outlook Remains Bearish

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Forex Trader Sentiment Points to Further Euro Gains
Forex Trader Sentiment Points to Further Euro Gains

Automate our SSI-based trading strategies via Mirror Trader free of charge

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 http://www.twitter.com/DRodriguezFX


original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.