SSI: The SSI signals more GBPUSD gains

EURUSD - The ratio of long to short positions in the EURUSD stands at -2.44 as nearly 71% of traders are short. Yesterday, the ratio was at -3.53 as 78% of open positions were short. In detail, long positions are 37.8% higher than yesterday and 22.2% stronger since last week. Short positions are 4.9% lower than yesterday and 2.8% stronger since last week. Open interest is 4.6% stronger than yesterday and 12.8% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.

GBPUSD - The ratio of long to short positions in the GBPUSD stands at -1.41 as nearly 59% of traders are short. Yesterday, the ratio was at -1.74 as 64% of open positions were short. In detail, long positions are 19.4% higher than yesterday and 10.7% stronger since last week. Short positions are 3.3% lower than yesterday and 21.4% stronger since last week. Open interest is 5.0% stronger than yesterday and 11.0% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD gains.

USDJPY - The ratio of long to short positions in the USDJPY stands at 1.39 as nearly 58% of traders are long. Yesterday, the ratio was at 1.73 as 63% of open positions were long. In detail, long positions are 8.9% lower than yesterday and 8.0% stronger since last week. Short positions are 13.7% higher than yesterday and 49.9% stronger since last week. Open interest is 0.6% weaker than yesterday and 17.2% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.

USDCHF - The ratio of long to short positions in the USDCHF stands at 2.49 as nearly 71% of traders are long. Yesterday, the ratio was at 2.83 as 74% of open positions were long. In detail, long positions are 0.4% higher than yesterday and 25.0% stronger since last week. Short positions are 14.1% higher than yesterday and 23.5% stronger since last week. Open interest is 4.0% stronger than yesterday and 11.0% above its monthly average. The SSI is a contrarian indicator and signals more USDCHF losses.

USDCAD - The ratio of long to short positions in the USDCAD stands at 5.86 as nearly 85% of traders are long. Yesterday, the ratio was at 6.83 as 87% of open positions were long. In detail, long positions are 1.6% higher than yesterday and 7.2% stronger since last week. Short positions are 18.4% higher than yesterday and 12.2% weaker since last week. Open interest is 3.8% stronger than yesterday and 8.3% above its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.

Source: FXCM Dealing Desk

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