Contributed by: DailyFx
EURUSD – Sharp swings in EURUSD sentiment warn that the Euro may reverse or enter a period of consolidation through upcoming trade. The ratio of long to short positions in the EURUSD stands at -1.25 as nearly 56% of traders are short. Yesterday, the ratio was at 1.00 as 50% of open positions were long. In detail, long positions are 11.8% lower than yesterday and 13.4% stronger since last week. Short positions are 10.3% higher than yesterday and 6.6% weaker since last week. Open interest is 0.8% weaker than yesterday and 5.9% below its monthly average. The EURUSD SSI ratio flipped to net-long yesterday for the first time since the pair traded near 1.26. A more sustained swing to net-long would give clear contrarian signal to go short the EURUSD.