Number of merchants net-short has decreased by 16.89% from final week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
EUR/GBP: Retail dealer knowledge reveals 50.08% of merchants are net-long with the ratio of merchants lengthy to brief at 1.00 to 1. In truth, merchants have remained net-long since Aug 26 when EUR/GBP traded close to 0.85, worth has moved 2.55% increased since then. The variety of merchants net-long is 21.43% increased than yesterday and 92.45% increased from final week, whereas the variety of merchants net-short is 3.39% increased than yesterday and 16.89% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests EUR/GBP costs could proceed to fall.
Our knowledge reveals merchants are actually net-long EUR/GBP for the primary time since Aug 26, 2022 when EUR/GBP traded close to 0.85. Traders are additional net-long than yesterday and final week, and the mix of present sentiment and up to date adjustments provides us a stronger EUR/GBP-bearish contrarian buying and selling bias.