Now it seems too obvious to me to go short and I know that whenever I think it looks too obvious/easy, I usually get my ass handed to me. It seems that the general sentiment in here is now short as well but we retail traders can't be that clever - can we?
Oh, hang on, FXCM's clients (as of Friday night) have just reassured me that they are still looking long (and adding) ..... see you at the bottom, wherever that may be.
EURUSD - The ratio of long to short positions in the EURUSD stands at 1.78 as nearly 64% of traders are long. Yesterday, the ratio was at 1.67 as 62% of open positions were long. In detail, long positions are 4.9% lower than yesterday and 11.0% stronger since last week. Short positions are 10.8% lower than yesterday and 30.1% weaker since last week. Open interest is 7.1% weaker than yesterday and 5.2% below its monthly average. The SSI is a contrarian indicator and signals more EURUSD losses.
Nothing worth having is easy.