EURUSD – Forex trading crowd biases on the EURUSD have shifted quickly, and recent volatility in crowd sentiment has left our SSI-based forex trading systems effectively flat the currency pair. The headline SSI ratio still registers at -1.54 as nearly 61% of traders are short—giving a contrarian signal to buy the currency pair. Yet short positions are actually 11.2 percent lower on the week, and the crowd’s short bias is waning. Yesterday, the ratio was at -1.27 as 56% of open positions were short. Unpredictable shifts in forex positioning make our SSI-based bias summarily unclear. Of two purely SSI-based momentum trading systems, one is currently short while another has gone long.
Al Bawaba
