EURUSD - The ratio of long to short positions in the EURUSD stands at 1.10 as 52% of traders are long. Yesterday the ratio was -1.10; 48% of open positions were long. Long positions are 10.5% higher than yesterday and 79.0% above levels seen last week. Short positions are 8.9% lower than yesterday and 37.9% below levels seen last week. Open interest is 0.3% higher than yesterday and 1.7% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the EURUSD may continue lower. The trading crowd has flipped from net-short to net-long from yesterday and last week. The combination of current sentiment and recent changes gives a further bearish trading bias.
SSI- FXCM