I will wait on my trade setup to become valid and then enter long or short, but first price needs to break above the green line or below the red line.
Retail trader data shows 48.1% of traders are net-long with the ratio of traders short to long at 1.08 to 1. The number of traders net-long is 7.5% higher than yesterday and 9.3% higher from last week, while the number of traders net-short is 1.4% higher than yesterday and 11.0% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURJPY prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed EURJPY trading bias.
Retail trader data shows 48.1% of traders are net-long with the ratio of traders short to long at 1.08 to 1. The number of traders net-long is 7.5% higher than yesterday and 9.3% higher from last week, while the number of traders net-short is 1.4% higher than yesterday and 11.0% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURJPY prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed EURJPY trading bias.
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