EUR/USD IG Client Sentiment: Our data shows traders are now net-short EUR/USD for the first time since Mar 23, 2021 when EUR/USD traded near 1.18.

Number of traders net-short has increased by 9.38% from last week.

EUR/USD: Retail trader data shows 49.76% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Mar 23 when EUR/USD traded near 1.18, price has moved 0.23% higher since then. The number of traders net-long is 0.42% lower than yesterday and 10.24% lower from last week, while the number of traders net-short is 8.51% higher than yesterday and 9.38% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/USD prices may continue to rise.

Our data shows traders are now net-short EUR/USD for the first time since Mar 23, 2021 when EUR/USD traded near 1.18. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bullish contrarian trading bias.

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