Traders With Short Positions in the EUR/USD Reduced Their Exposure Mostly on Profit T

[B]EUR/USD[/B][B] Ratio: -1.78
[/B][B]Signal: Bullish[/B]

                             [B]Currency[/B]             [B]Last Week[/B]             [B]Present*[/B]             [B]% Long[/B]             [B]% Change in   Positions Outstanding[/B]             [B]Signal[/B]                               EUR/USD             -1.63             [B]-1.78[/B]             36%             0.46%             Bullish                


[B]EURUSD[/B] – The ratio of long to short positions in the EURUSD stands at -1.78 as nearly 64% of traders are short, according to our execution desk data on the positioning of more than 21.000 retail traders. In detail, long positions are 0.7% lower than yesterday and 16.0% stronger since last week. Short positions are 8.3% higher than yesterday but 6.4% weaker since last week. Looking ahead, when retail traders are short but reduce their exposure, the long term direction remains bullish but the market might have some downside in the short term.

What makes it bullish?