According to the latest IG retail trader data, 54.49% of traders hold a net-long position, with the ratio of long to short traders at 1.20 to 1. The number of net-long traders has decreased by 0.84% compared to the previous day but has increased by 34.83% compared to last week. On the other hand, the number of net-short traders has increased by 7.36% from yesterday but has decreased by 4.00% from last week.

Our approach typically contrasts with crowd sentiment, and the fact that traders are net-long suggests that EUR/USD prices may continue to fall. However, the current positioning is less net-long than yesterday but more net-long compared to last week. This combination of current sentiment and recent changes presents a mixed trading bias for the EUR/USD pair.

EUR/USD – MIXED OUTLOOK

Jun 20 2024

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