EURUSD - Forex Trading Crowd Indecisive, Further Volatility Likely

[DailyFx]

EUR/USD Ratio: 1.05
Trading Forecast: Bearish



Forex Positioning in the EURUSD

EURUSD – The forex trading crowd shows no clear forecast for the Euro/US Dollar pair, with effectively neutral speculative positioning showing little bias in the EURUSD. Though trading volume has remained elevated, excessive intraday volatility means that many position traders are currently out of the market and unwilling to sustain sharp price swings. The ratio of long to short positions in the EURUSD stands at 1.04 as nearly 51% of traders are long, and traders have been flipping from net-short to net-long and vice versa on a frequent basis. Both long and short positions have fallen on the week, and our SSI effectively signals a neutral bias on the EURUSD. This is consistent with our technical forecasts for the EURUSD—markets seem willing to wait for further clarification before forcing any major moves.