Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.
Daily Technicals
The Euro snapped out of the descending trend channel last week before doing a U-turn since and there could be some ominous sign for Euro bulls. Will EUR/USD resume the descent?
Number of traders net-short has increased by 9.13% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIAUD/JPYBEARISH50.65%49.35%15.92% Daily22.63% Weekly-2.58% Daily9.13% Weekly5.99% Daily15.58% Weekly AUD/JPY: Retail trader data shows 50.65% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since Sep 05
Crude Oil, WTI, Retail Trader Positioning, Technical Analysis – IGCS Commodities UpdateCrude oil prices close at highest since mid-NovemberRetail traders continue to become increasingly bearishNow, WTI faces the 61.8% Fibonacci extension point Crude oil prices are on pace to rise over 1.8 percent this week so far, with WTI also aiming for a 4th consecutive
Gold, Silver, Trendlines, Symmetrical Triangle – Technical Update:Gold prices remain tilted lower due to key trendlineOn the other hand, Silver remains in a neutral stateWhat are key levels to watch for XAU and XAG? XAU/USD AnalysisGold prices appear to be increasingly struggling to break above the key falling trendline from May on the daily chart
Euro, EUR/USD, Technical Analysis, Retail Trader Positioning – IGCS UpdateEuro sets the stage for a potential win this weekAnd, retail traders began turning more bearishWhat technical obstacles does EUR/USD face? While the week is still fresh, the Euro is seemingly on course for its first 5-day gain since July, potentially ending an 8-week losing streak.
of clients are net long. of clients are net short. Long Short Note: Low and High figures are for the trading day. Data provided by of clients are net long. of clients are net short. Long Short Note: Low and High figures are for the trading day. Data provided by of clients are net long.