Are retail traders long or short EUR/USD?

As of September 5, 2026, 32% of retail traders are long EUR/USD and 68% are short, blended across the Dukascopy, Myfxbook and Saxo crowds.

What percentage of retail traders are long gold?

As of September 5, 2026, 47% of retail traders are long gold (XAU/USD) and 53% 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 September 5, 2026, retail traders are most crowded long on NZD/JPY (81% long) and most crowded short on AUD/USD (86% short), blended across the Dukascopy, Myfxbook and Saxo crowds. The crowd diverges from the bank + CFTC consensus on 7 instruments — a contrarian setup on each.

28Instruments

2Broker sources

7Contrarian 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	Bearish14% long / 86% short	Bullish	Bullish	ContrarianCrowd short — banks & specs both bullish
NZD/USD	Bullish61% long / 39% short	Bearish	Bearish	DivergentCrowd long — banks & specs both bearish
GBP/USD	Bearish32% long / 68% short	Bullish	Bearish	MildCrowd short vs CFTC specs
USD/JPY	Bearish62% long / 38% short	Bearish	Bullish	MildCrowd short vs bank consensus
USD/CHF	Bearish58% long / 42% short	Bearish	Bullish	MildCrowd short vs bank consensus
USD/CAD	Bearish57% long / 43% short	Bearish	Bullish	MildCrowd short vs bank consensus
USD/MXN	Bullish50% long / 50% short	Bullish	Bearish	MildCrowd long vs bank consensus
EUR/USD	Bearish32% long / 68% short	Bearish	Bearish	AlignedAligned with smart money

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/USDContrarian

14% long86% short

Crowd short — banks & specs both bullish

NZD/USDDivergent

61% long39% short

Crowd long — banks & specs both bearish

GBP/USDMild

32% long68% short

Crowd short vs CFTC specs

USD/JPYMild

62% long38% short

Crowd short vs bank consensus

USD/CHFMild

58% long42% short

Crowd short vs bank consensus

USD/CADMild

57% long43% short

Crowd short vs bank consensus

USD/MXNMild

50% long50% short

Crowd long vs bank consensus

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

Brent CrudeCrowd extreme

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	14% long86% short	-71	Detail →
GBP/USD GBP/USD bank consensus	32% long68% short	-36	Detail →
EUR/USD EUR/USD bank consensus	32% long68% short	-36	Detail →
USD/JPY USD/JPY bank consensus	62% long38% short	+24	Detail →
NZD/USD NZD/USD bank consensus	61% long39% short	+22	Detail →
USD/CHF USD/CHF bank consensus	58% long42% short	+16	Detail →
USD/CAD USD/CAD bank consensus	57% long43% short	+14	Detail →
EM FX
USD/TRY USD/TRY bank consensus	64% long36% short	+28	Detail →
USD/ZAR USD/ZAR bank consensus	57% long43% short	+13	Detail →
USD/MXN USD/MXN bank consensus	50% long50% short	flat	Detail →
FX Crosses
AUD/NZD	18% long82% short	-64	Detail →
NZD/JPY	81% long19% short	+63	Detail →
CAD/JPY	77% long23% short	+55	Detail →
EUR/CHF	24% long76% short	-52	Detail →
GBP/JPY	74% long26% short	+48	Detail →
EUR/JPY	71% long29% short	+41	Detail →
EUR/AUD	64% long36% short	+29	Detail →
AUD/JPY	36% long64% short	-27	Detail →
EUR/NZD	37% long63% short	-27	Detail →
EUR/CAD	44% long56% short	-13	Detail →
CHF/JPY	56% long44% short	+12	Detail →
EUR/GBP	44% long56% short	-11	Detail →
GBP/CHF	53% long47% short	+6	Detail →
GBP/CAD	50% long50% short	flat	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

Dukascopy28% / 72%

Myfxbook10% / 90%

saxo5% / 95%

EUR/CHFBrokers split

Dukascopy57% / 43%

Myfxbook12% / 88%

saxo4% / 96%

EUR/GBPBrokers split

Dukascopy62% / 38%

Myfxbook26% / 74%

saxo45% / 55%

EUR/JPYBrokers agree

Dukascopy72% / 28%

Myfxbook66% / 34%

saxo74% / 26%

EUR/USDBrokers agree

Dukascopy37% / 63%

Myfxbook37% / 63%

saxo22% / 78%

GBP/USDBrokers agree

Dukascopy32% / 68%

Myfxbook44% / 56%

saxo20% / 80%

Gold (XAU/USD)Brokers split

Dukascopy73% / 27%

Myfxbook50% / 50%

saxo17% / 83%

Silver (XAG/USD)Brokers split

Dukascopy75% / 25%

Myfxbook55% / 45%

saxo0% / 100%

USD/CADBrokers split

Dukascopy57% / 43%

Myfxbook66% / 34%

saxo48% / 52%

USD/CHFBrokers agree

Dukascopy70% / 30%

Myfxbook51% / 49%

saxo52% / 48%

USD/JPYBrokers split

Dukascopy33% / 67%

Myfxbook84% / 16%

saxo69% / 31%

AUD/JPYBrokers agree

Dukascopy28% / 72%

Myfxbook45% / 55%

AUD/NZDBrokers agree

Dukascopy28% / 72%

Myfxbook8% / 92%

CAD/JPYBrokers agree

Dukascopy74% / 26%

Myfxbook81% / 19%

CHF/JPYBrokers split

Dukascopy28% / 72%

Myfxbook84% / 16%

EUR/AUDBrokers split

Dukascopy40% / 60%

Myfxbook89% / 11%

EUR/CADBrokers split

Dukascopy26% / 74%

Myfxbook61% / 39%

EUR/NZDBrokers agree

Dukascopy29% / 71%

Myfxbook44% / 56%

GBP/CADBrokers split

Dukascopy27% / 73%

Myfxbook73% / 27%

GBP/CHFBrokers split

Dukascopy74% / 26%

Myfxbook32% / 68%

GBP/JPYBrokers agree

Dukascopy58% / 42%

Myfxbook90% / 10%

NZD/JPYBrokers agree

Dukascopy71% / 29%

Myfxbook92% / 8%

NZD/USDBrokers split

Dukascopy74% / 26%

Myfxbook48% / 52%

USD/MXNBrokers split

Dukascopy54% / 46%

Myfxbook46% / 54%

USD/TRYBrokers split

Dukascopy28% / 72%

Myfxbook100% / 0%

USD/ZARBrokers split

Dukascopy27% / 73%

Myfxbook86% / 14%

WTI CrudeBrokers agree

Dukascopy37% / 63%

Myfxbook0% / 100%

Brent CrudeSingle source

Dukascopy26% / 74%

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	43% long57% short	-14	Detail →
Gold	47% long53% short	-7	Detail →
Energy
WTI	19% long81% short	-63	Detail →
Brent1 src	26% long74% short	-48	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