Are retail traders long or short EUR/USD?

As of July 22, 2026, 54% of retail traders are long EUR/USD and 46% are short, blended across the Dukascopy, Myfxbook and Saxo crowds.

What percentage of retail traders are long gold?

As of July 22, 2026, 51% of retail traders are long gold (XAU/USD) and 49% are short, blended across the Dukascopy, Myfxbook and Saxo crowds.

Is retail forex sentiment a contrarian indicator?

Retail crowd positioning is widely used as a contrarian indicator. When the retail crowd is heavily one-sided — especially against institutional positioning such as CFTC speculators and bank consensus — the crowded trade has historically tended to unwind, moving price the other way.

What is the difference between Myfxbook and Dukascopy positioning?

Myfxbook Community Outlook tracks live long/short positions across the Myfxbook network of retail accounts; Dukascopy SWFX reflects positioning at the Dukascopy marketplace. We blend the two into a single cross-broker consensus per instrument — where both crowds agree, the signal is firmer.

Retail Positioning

Where the retail crowd is long & short

As of July 22, 2026, retail traders are most crowded long on EUR/GBP (65% long) and most crowded short on AUD/JPY (80% short), blended across the Dukascopy, Myfxbook and Saxo crowds. The crowd diverges from the bank + CFTC consensus on 8 instruments — a contrarian setup on each.

28Instruments

2Broker sources

8Contrarian setups

Smart money vs crowd

Where the crowd opposes the banks & specs

Retail crowd direction lined up against CFTC speculative positioning and sell-side bank consensus, on one axis — bullish or bearish the currency versus the dollar. When the crowd is heavily one-sided against both institutional reads, the crowded trade is a candidate to fade.

Retail crowd positioning compared with CFTC speculative positioning and sell-side bank consensus for major currencies versus the US dollar, with a contrarian signal where the crowd opposes both institutional reads.
Currency	Retail crowd	Specs · CFTC	Banks	Signal
AUD/USD	Bearish22% long / 78% short	Bullish	Bearish	DivergentCrowd short vs CFTC specs
EUR/USD	Bullish54% long / 46% short	Bearish	Bearish	DivergentCrowd long — banks & specs both bearish
NZD/USD	Bullish54% long / 46% short	Bearish	Bearish	DivergentCrowd long — banks & specs both bearish
USD/CAD	Bullish37% long / 63% short	Bearish	Bullish	MildCrowd long vs CFTC specs
USD/JPY	Bullish41% long / 59% short	Bearish	Bullish	MildCrowd long vs CFTC specs
GBP/USD	Bearish45% long / 55% short	Bullish	Bearish	MildCrowd short vs CFTC specs
USD/CHF	Bearish53% long / 47% short	Bearish	Bullish	MildCrowd short vs bank consensus
USD/MXN	Bearish51% long / 49% short	Bullish	Bearish	MildCrowd short vs CFTC specs

Open the full Smart Money vs Crowd dashboard →

Contrarian setups

Most one-sided crowd trades right now

Pairs where retail is most heavily positioned against the institutional consensus, strongest signal first.

AUD/USDDivergent

22% long78% short

Crowd short vs CFTC specs

EUR/USDDivergent

54% long46% short

Crowd long — banks & specs both bearish

NZD/USDDivergent

54% long46% short

Crowd long — banks & specs both bearish

USD/CADMild

37% long63% short

Crowd long vs CFTC specs

USD/JPYMild

41% long59% short

Crowd long vs CFTC specs

GBP/USDMild

45% long55% short

Crowd short vs CFTC specs

USD/CHFMild

53% long47% short

Crowd short vs bank consensus

USD/MXNMild

51% long49% short

Crowd short vs CFTC specs

Crowd extremes

Most one-sided crowds — EM, crosses & commodities

Instruments where retail is heavily positioned one way. There is no institutional cross-check for these (CFTC + bank coverage is G10-major only), so read them as a crowding flag, not a confirmed contrarian signal.

WTI CrudeCrowd extreme

26% long74% short

Full crowd table

Retail long / short — FX majors, EM & crosses

Live crowd positioning blended across the Myfxbook and Dukascopy crowds. Net = percentage points net long the pair.

Retail crowd long/short positioning per instrument, blended across the Myfxbook and Dukascopy crowds. Net = percentage points net long.
Instrument	Crowd long / short	Net	Detail
FX Majors
AUD/USD AUD/USD bank consensus	22% long78% short	-56	Detail →
USD/CAD USD/CAD bank consensus	37% long63% short	-26	Detail →
USD/JPY USD/JPY bank consensus	41% long59% short	-18	Detail →
GBP/USD GBP/USD bank consensus	45% long55% short	-10	Detail →
EUR/USD EUR/USD bank consensus	54% long46% short	+8	Detail →
NZD/USD NZD/USD bank consensus	54% long46% short	+8	Detail →
USD/CHF USD/CHF bank consensus	53% long47% short	+7	Detail →
EM FX
USD/ZAR USD/ZAR bank consensus	21% long79% short	-58	Detail →
USD/TRY USD/TRY bank consensus	37% long63% short	-26	Detail →
USD/MXN USD/MXN bank consensus	51% long49% short	+2	Detail →
FX Crosses
AUD/JPY	20% long80% short	-60	Detail →
NZD/JPY	22% long78% short	-56	Detail →
CAD/JPY	22% long78% short	-55	Detail →
GBP/CAD	26% long74% short	-49	Detail →
EUR/GBP	65% long35% short	+30	Detail →
EUR/CHF	41% long59% short	-18	Detail →
EUR/NZD	58% long42% short	+16	Detail →
AUD/NZD	43% long57% short	-13	Detail →
EUR/AUD	56% long44% short	+13	Detail →
GBP/JPY	45% long55% short	-10	Detail →
GBP/CHF	46% long54% short	-9	Detail →
CHF/JPY	46% long54% short	-8	Detail →
EUR/JPY	52% long48% short	+5	Detail →
EUR/CAD	51% long49% short	+2	Detail →

Broker breakdown

Myfxbook vs Dukascopy — where the crowds agree

The two broker crowds side by side. Where both lean the same way, the cross-broker consensus is firmer; where they split, retail sentiment is contested.

AUD/USDBrokers agree

Dukascopy26% / 74%

Myfxbook32% / 68%

saxo9% / 91%

EUR/CHFBrokers split

Dukascopy69% / 31%

Myfxbook26% / 74%

saxo28% / 72%

EUR/GBPBrokers split

Dukascopy75% / 25%

Myfxbook77% / 23%

saxo44% / 56%

EUR/JPYBrokers split

Dukascopy70% / 30%

Myfxbook19% / 81%

saxo68% / 32%

EUR/USDBrokers split

Dukascopy53% / 47%

Myfxbook63% / 37%

saxo46% / 54%

GBP/USDBrokers agree

Dukascopy49% / 51%

Myfxbook49% / 51%

saxo37% / 63%

Gold (XAU/USD)Brokers split

Dukascopy74% / 26%

Myfxbook50% / 50%

saxo28% / 72%

Silver (XAG/USD)Brokers split

Dukascopy71% / 29%

Myfxbook55% / 45%

saxo1% / 99%

USD/CADBrokers agree

Dukascopy47% / 53%

Myfxbook29% / 71%

saxo34% / 66%

USD/CHFBrokers split

Dukascopy74% / 26%

Myfxbook38% / 62%

saxo48% / 52%

USD/JPYBrokers split

Dukascopy32% / 68%

Myfxbook16% / 84%

saxo75% / 25%

AUD/JPYBrokers agree

Dukascopy27% / 73%

Myfxbook13% / 87%

AUD/NZDBrokers split

Dukascopy61% / 39%

Myfxbook26% / 74%

CAD/JPYBrokers agree

Dukascopy26% / 74%

Myfxbook19% / 81%

CHF/JPYBrokers split

Dukascopy72% / 28%

Myfxbook20% / 80%

EUR/AUDBrokers split

Dukascopy32% / 68%

Myfxbook81% / 19%

EUR/CADBrokers split

Dukascopy28% / 72%

Myfxbook74% / 26%

EUR/NZDBrokers split

Dukascopy29% / 71%

Myfxbook87% / 13%

GBP/CADBrokers agree

Dukascopy27% / 73%

Myfxbook24% / 76%

GBP/CHFBrokers split

Dukascopy73% / 27%

Myfxbook18% / 82%

GBP/JPYBrokers agree

Dukascopy41% / 59%

Myfxbook49% / 51%

NZD/JPYBrokers agree

Dukascopy29% / 71%

Myfxbook15% / 85%

NZD/USDBrokers split

Dukascopy73% / 27%

Myfxbook35% / 65%

USD/MXNBrokers split

Dukascopy57% / 43%

Myfxbook45% / 55%

USD/TRYBrokers split

Dukascopy74% / 26%

Myfxbook0% / 100%

USD/ZARBrokers agree

Dukascopy27% / 73%

Myfxbook15% / 85%

WTI CrudeBrokers split

Dukascopy53% / 47%

Myfxbook0% / 100%

Brent CrudeSingle source

Dukascopy33% / 67%

Commodities

Retail positioning in gold, silver & oil

Crowd long/short for metals and energy — the part of the picture the FX-only consensus table can't show.

Retail crowd long/short positioning per instrument, blended across the Myfxbook and Dukascopy crowds. Net = percentage points net long.
Instrument	Crowd long / short	Net	Detail
Metals
Silver	42% long58% short	-15	Detail →
Gold	51% long49% short	+1	Detail →
Energy
WTI	26% long74% short	-47	Detail →
Brent1 src	33% long67% short	-34	Detail →

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Where the crowd opposes the banks & specs

Most one-sided crowd trades right now

Most one-sided crowds — EM, crosses & commodities

Retail long / short — FX majors, EM & crosses

Myfxbook vs Dukascopy — where the crowds agree

Retail positioning in gold, silver & oil