Euro May Rally Further on Forex Crowd Sentiment
ByDavid Rodriguez, On Thursday December 2, 2010, 11:09 am EST
EURUSD – Forex crowd trading sentiment shows that traders have recently turned bearish the EURUSD, giving contrarian signal to watch for further strength. The ratio of long to short positions in the EURUSD stands at -1.05 as nearly 51% of traders are short. Yesterday, the ratio was at -1.01 as 50% of open positions were short. in detail, long positions are 4.9% lower than yesterday and 5.3% weaker since last week. Short positions are 0.8% lower than yesterday and 10.9% stronger since last week. Open interest is 2.9% weaker than yesterday and 3.8% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.
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Euro May Rally Further on Forex Crowd Sentiment
Tags: 100 charts, contrarian indicator, EUR/USD, forex, open positions