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EUR/USD - Retail trader data shows 49.70% of traders are net-long - We typically take a contrarian view to crowd sentiment.
in New to IG Community
Posted
Hi,
I recently started demo trading the EURDollar and saw the statement regarding IG taking the contrarian view to crowd sentiment. What is the logic behind this stance?
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/USD prices may continue to rise.
EUR/USD IG Client Sentiment: Our data shows traders are now net-short EUR/USD for the first time since Aug 30, 2023 when EUR/USD traded near 1.09. (dailyfx.com)
Thanks