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Most loved and hated currency pairs by retail traders

EURUSD News by Simon Kazinsky on 09:42 June 07, 2017 EST

Retail traders have positioned their-selves aggressively long on USDCHF just as the pair breaks lower in what appears the death of any hope for it to cross and maintain above parity as it sharply breaks all short, medium and long term supports. The ratio stands almost at 8/2 according to data from Oanda.

Interestingly they are now neutral Gold versus the buck literally as the precious metal breaks above the last line of resistance in the long term chart. This pair used to be extremely bought by traders just weeks ago as the trend was unclear.

The main European currencies are also being sold as they make their way up against the dollar.

Finally, according to data from IG traders are very short on the SP500 index, meaning the rump up on American stocks could still continue its way up though it has to be noted that the main stocks are technically overbought and the index itself is very close to a multi decade Fibonacci ratio.