EURUSD Shorts Drop 9.3% As Retail Traders Reduce Their Euro Exposure

Wednesday, 05 November 2008 17:05:46 GMT Written by John Kicklighter, Currency Strategist

quote ratio %long signal EURUSD 1.29928 -1.27 44% Bullish GBPUSD 1.60104 -1.62 38% Bullish USDJPY 98.892 1.16 54% Bearish USDCHF 1.16241 -1.86 35% Bullish USDCAD 1.15885 2.74 73% Bearish AUDUSD 0.69325 -1.44 41% Bullish NZDUSD 0.60463 -2.33 30% Bullish EURUSD - The ratio of long to short positions in the EURUSD stands at -1.27 as nearly 56% of traders are short. Yesterday, the ratio was at -1.21 as 55% of open positions were short. In detail, long positions are 9.3% lower than yesterday and 11.6% weaker since last week. Short positions are 4.3% lower than yesterday and 11.2% stronger since last week. Open interest is 6.5% weaker than yesterday and 95.4% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains. GBPUSD - The ratio of long to short positions in the GBPUSD stands at -1.62 as nearly 62% of traders are short. Yesterday, the ratio was at -1.56 as 61% of open positions were short. In detail, long positions are 4.6% lower than yesterday and 3.7% stronger since last week. Short positions are 0.9% lower than yesterday and 9.7% stronger since last week. Open interest is 2.4% weaker than yesterday and 101.5% above its monthly average. The SSI is a contrarian indicator and signals more GBPUSD gains. USDJPY - The ratio of long to short positions in the USDJPY stands at 1.16 as nearly 54% of traders are long. Yesterday, the ratio was at 1.16 as 54% of open positions were long. In detail, long positions are 2.7% higher than yesterday and 14.5% stronger since last week. Short positions are 3.1% higher than yesterday and 1.5% stronger since last week. Open interest is 2.9% stronger than yesterday and 98.6% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses. USDCHF - The ratio of long to short positions in the USDCHF stands at -1.86 as nearly 65% of traders are short. Yesterday, the ratio was at -1.91 as 66% of open positions were short. In detail, long positions are 1.0% lower than yesterday and 9.2% weaker since last week. Short positions are 3.9% lower than yesterday and 4.4% stronger since last week. Open interest is 2.9% weaker than yesterday and 91.3% above its monthly average. The SSI is a contrarian indicator and signals more USDCHF gains. USDCAD - The ratio of long to short positions in the USDCAD stands at 2.74 as nearly 73% of traders are long. Yesterday, the ratio was at 2.63 as 72% of open positions were long. In detail, long positions are 1.4% lower than yesterday and 12.1% stronger since last week. Short positions are 5.5% lower than yesterday and 15.2% weaker since last week. Open interest is 2.5% weaker than yesterday and 93.6% above its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses. AUDUSD - The ratio of long to short positions in the AUDUSD stands at -1.44 as nearly 59% of traders are short. Yesterday, the ratio was at -1.19 as 54% of open positions were short. In detail, long positions are 15.8% lower than yesterday and 15.0% weaker since last week. Short positions are 1.7% higher than yesterday and 22.3% stronger since last week. Open interest is 6.3% weaker than yesterday and 95.2% above its monthly average. The SSI is a contrarian indicator and signals more AUDUSD gains. NZDUSD - The ratio of long to short positions in the NZDUSD stands at -2.33 as nearly 70% of traders are short. Yesterday, the ratio was at -2.25 as 69% of open positions were short. In detail, long positions are 6.3% lower than yesterday and 12.5% stronger since last week. Short positions are 2.8% lower than yesterday and 7.1% stronger since last week. Open interest is 3.8% weaker than yesterday and 95.8% above its monthly average. The SSI is a contrarian indicator and signals more NZDUSD gains.