[B]EUR/USD Ratio: -1.13[/B]
[B]Signal: Bullish[/B]
[B]Currency Last Week %Long %Change Positions Outstanding[/B]
[B]EUR/USD -1.96 47% -2.14%[/B]
[B]EURUSD [/B]– FXCM positioning data shows that 53% of traders remain short the EURUSD, but long positions have surged 37.2 percent since last week’s report. The sudden shift in crowd sentiment suggests that the EURUSD may see further correction before resuming its uptrend, and a flip to net-long positioning would give clear warning of potential EURUSD drops. A 13.1 percent drop in short positions since last week confirms that the crowd is progressively becoming bullish the EURUSD—a potential warning as to the short-term direction of the currency pair.
[B]Written By David Rodriguez, Currency Analyst for DailyFx.com[/B]