[B]EUR/USD[/B][B] Ratio: -1.63
[/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] EURUSD -1.68 [B]-1.63[/B] 38% 1.87% Bullish
[B]EURUSD – [/B]Retail Forex traders continue to fight the EURUSD’s record-breaking rally, suggesting the euro has further to advance. Though the pair recently surged through the next market-worthy milestone at 1.5500, the Speculative Sentiment Index ratio still stands at -1.63 with 62 percent of traders attempting to call a top with short positions. For perspective, today’s ratio is only slightly less extreme than last week’s -1.68 reading. On the other hand, the recent reading stands in more distinct contrast to the -2.20 read before yesterday’s breakout. Looking into the details, it seems that retail traders may be slowly coming to terms with the dollar’s weakness as open interest is only 1.8% greater than last Thursday and 14.6% above the monthly average. What’s more, long positions have jumped 24% since Wednesday’s break and are 14.5% stronger than last week. Shorts are down 8.3% from yesterday and 4.4% from last week.