US 500: Retail trader data shows 26.2% of traders are net-long with the ratio of traders short to long at 2.81 to 1. The number of traders net-long is 7.7% lower than yesterday and 10.9% lower from last week, while the number of traders net-short is 2.1% higher than yesterday and 8.0% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests US 500 prices may continue to ...
EURUSD: Retail trader data shows 44.5% of traders are net-long with the ratio of traders short to long at 1.25 to 1. The number of traders net-long is 6.5% higher than yesterday and 15.5% higher from last week, while the number of traders net-short is 5.1% higher than yesterday and 11.8% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURUSD prices may continue to ...
Euro selling pressure struggled to sustain momentum after a 6-day losing streak brought the currency to the lowest level in three weeks against the US Dollar. Still, a break of rising trend support set from early November seems to suggest the near-term bias continues to favor weakness. A break below the 38.2% Fibonacci expansion at 1.1756 confirmed on a daily closing basis sees the next downside barrier at 1.1692, the 50% level. Alternatively, ...
The Canadian Dollar rate has fallen across the board after a cautious Bank of Canada aligned with multiple factors that could put further pressure on the CAD. Despite sharp gains last Friday in CAD due to impressive employment gains, the Canadian Dollar rate fell below 1.28 to the USD. Key drivers of Canadian Dollar weakness in global markets a day after the Bank of Canada left rates unchanged were commodities selling off led by metals ...
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