FXCM Speculative Sentiment Index

EURUSD - 68% of retail traders are short EURUSD (long to short ratio is -2.12). Moreover, since last week, retail has been aggressively selling EURUSD (short positions are up by 16.9%). In the past, when retail was short and selling more, the EURUSD has rallied in the following days. The SSI gives us a STRONG SIGNAL TO BUY EURUSD.

GBPUSD - 61% of retail traders are short GBPUSD (long to short ratio is -1.56). However, since last week, retail has been buying the GBPUSD (long positions are up by 5.1%). When retail is short but reduces its exposure, the long term direction remains bullish but the market might have some downside in the short term. The SSI gives us a MEDIUM SIGNAL TO BUY GBPUSD.

USDCAD - 79% of retail traders are long USDCAD (long to short ratio is 3.69). However, since last week, retail has been selling the USDCAD (short positions are up by 12.8%). When retail is long but reduces its exposure, the long term direction remains bearish but the market might have some upside in the short term. The SSI gives us a MEDIUM SIGNAL TO SELL USDCAD.

USDJPY - 58% of retail traders are long USDJPY (long to short ratio is 1.37). However, since last week, retail has been selling the USDJPY (short positions are up by 7.2%). When retail is long but reduces its exposure, the long term direction remains bearish but the market might have some upside in the short term. The SSI gives us a MEDIUM SIGNAL TO SELL USDJPY.

USDCHF - 80% of retail traders are long USDCHF (long to short ratio is 4.11). Moreover, since last week, retail has been aggressively buying USDCHF (long positions are up by 26.7%). In the past, when retail was long and buying more, the USDCHF has sold off in the following days. The SSI gives us a STRONG SIGNAL TO SELL USDCHF.