[B]EUR[/B][B]/USD Ratio: -1.48
[/B][B]Signal: Bullish[/B]
EURUSD
-1.72
[B]-1.48[/B]
40%
10.72%
Bullish
[B]EURUSD[/B] – Hitting fresh record highs seems to be a weekly ritual for EURUSD; and retail speculative traders tirelessly try to fight the trend. Positioning in the Sentiment Speculative Index moved closer to parity over the past week as the pair made a move to a new all-time high just short of 1.6000, triggering stops and encouraging longs to take advantage of breakout momentum. The SSI ratio stands at -1.48 compared to the -1.78 reading from last week and -2.01 from yesterday. Looking at the report’s breakdown, we can see the euro’s advance has led to notable shift in positioning. Long positions jumped 15% from Wednesday yet are only 4% higher than last week. Shorts on the other hand are 15.4% weaker than yesterday and 15.8% weaker than last weak. Overall, open interest grew 4.9% on the week and is 11.1% above its monthly average. The consistently negative EURUSD SSI reading points to a sustained move above 1.60, but the general trend in the net reading suggests a flip and reversal from EURUSD could come down the line.