EUR/USD Short Formation
Updated
If EUR/USD breaks bellow the 1. red line then our 1. Target is 2. red line which is also good support.
Retail trader data shows 49.9% of traders are net-long with the ratio of traders short to long at 1.0 to 1. The number of traders net-long is 0.1% lower than yesterday and 32.5% lower from last week, while the number of traders net-short is 24.9% lower than yesterday and 12.5% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURUSD prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias.
Retail trader data shows 49.9% of traders are net-long with the ratio of traders short to long at 1.0 to 1. The number of traders net-long is 0.1% lower than yesterday and 32.5% lower from last week, while the number of traders net-short is 24.9% lower than yesterday and 12.5% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURUSD prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias.
Order cancelled
Trade did not break bellow red line so i will look for break above green line because of impulsive move up.
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