Data shows traders are now net-long EUR/USD for the first time since May 09, 2024, when EUR/USD traded near 1.08. THE NUMBER OF TRADERS NET-SHORT HAS DECREASED BY 10.36% FROM LAST WEEK. EUR/USD: Retail trader data shows 51.09% of traders are net-long with a long-to-short ratio of 1.04 to 1. In fact, traders have remained net-long since May 09 when EUR/USD traded near 1.08, and the price has moved 0.24% higher since then. The number of traders net-long is 33.72% higher than yesterday and 10.17% higher than last week, while the number of traders net-short is 24.49% lower than yesterday and 10.36% lower than last week.

I typically adopt a contrarian view to crowd sentiment, and the fact that traders are net-long suggests EUR/USD prices may continue to fall.

Data shows traders are now net-long EUR/USD for the first time since May 09, 2024, when EUR/USD traded near 1.08. Traders are more net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bearish contrarian trading bias.

EUR/USD Market Sentiment

May 30 2024

1