EURCHF Something Fishy Going On

Retail trader data shows 89.0% of traders are net-long with the ratio of traders long to short at 8.12 to 1. In fact, traders have remained net-long since Jan 31 when EURCHF traded near 1.12625; price has moved 0.7% lower since then. The number of traders net-long is 36.1% higher than yesterday and 128.1% higher from last week, while the number of traders net-short is 5.5% lower than yesterday and 35.0% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURCHF prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EURCHF-bearish contrarian trading bias.

SOMETHING VERY FISHY IS GOING ON HERE TRADERS, I CAN'T SAY MUCH BUT BE VERY VERY VERY CAREFUL...

This type of sentiment ratio was foun on EURCHF only before the 2016 crash...