Variety of merchants net-short has elevated by 45.75% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
EUR/GBP |
BULLISH |
36.83% |
63.17% |
-8.77%
-22.85% |
12.06%
45.75% |
3.37%
9.80% |
EUR/GBP: Retail dealer information reveals 36.83% of merchants are net-long with the ratio of merchants brief to lengthy at 1.72 to 1. Our information reveals merchants at the moment are at their least net-long EUR/GBP since Jun 15 when EUR/GBP traded close to 0.86. The variety of merchants net-long is 8.77% decrease than yesterday and 22.85% decrease from final week, whereas the variety of merchants net-short is 12.06% increased than yesterday and 45.75% increased from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-short suggests EUR/GBP costs could proceed to rise.
Merchants are additional net-short than yesterday and final week, and the mix of present sentiment and up to date adjustments offers us a stronger EUR/GBP-bullish contrarian buying and selling bias.
