The number of traders net-long is 1.8% lower than yesterday and 25.0% lower from last week, while the number of traders net-short is 4.8% higher than yesterday and 48.0% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURUSD prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EURUSD-bullish contrarian trading bias.
But at this point is all due after the FOMC statement we provide a full detailed analysis on fundamentals in our private network but i'm going to leak something to you 😉 we expect a dovish stance from the FED thus bringing more weakness to the Dollar even tho this very morning some rumors about a possible rate hike for 2019 came out and are strenghtening he Dollar ahead of the meeting, just rumors to allow insiders to buy cheaper?