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US Dollar Sentiment Latest – EUR/USD, USD/JPY, and GBP/USD

July 2, 2024

Via: DailyFX

Recent retail trading data indicates that 57.14% of traders have taken long positions on EUR/USD, with a ratio of 1.33 long traders for every short trader. The number of long positions has increased by 26.08% since yesterday and 6.42% since last week. Conversely, short positions have decreased by 18.26% since yesterday and 15.81% since last week. Given our contrarian approach to market sentiment, this predominance of long positions suggests a potential continued decline in EUR/USD prices. The combination of current sentiment and recent shifts strengthens our bearish outlook on EUR/USD.

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