FOREX ANALYSIS: Crowds Sell Euro, We Favor Gains

ssi_eur-usd_body_Picture_6.png, FOREX ANALYSIS: Crowds Sell Euro, We Favor Gains

Retail forex trading crowds have sold aggressively into Euro strength against the US Dollar (ticker: USDOLLAR), and indeed short interest has hit fresh year-to-date peaks. We most often take a contrarian view to crowd sentiment; if most traders are short, we prefer to go long. And indeed we see risks that the EURUSD continues to trade above the psychologically significant $1.30 mark.

Two of our SSI-based trading strategies have most recently gone long EURUSD from 1.2944 and 1.2984, but it remains important to watch how the Euro reacts to key resistance near the $1.3130 figure.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

New to FX markets? Learn more in our video trading guide.

Contact David via

Twitter at https://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.164-0.002-1.20%
    N21.SI
    0.162+0.017+11.72%
    40E.SI
    1.025+0.045+4.59%
    G13.SI
    0.094-0.007-6.93%
    5I0.SI
    0.44+0.01+2.33%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.162+0.017+11.72%
    40E.SI
    0.525+0.050+10.53%
    43F.SI
    0.45+0.04+9.76%
    BJV.SI
    0.34+0.03+9.68%
    P9D.SI
    0.13+0.01+9.24%
    O9E.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.485-0.100-17.09%
    L5I.SI
    0.198-0.037-15.74%
    40D.SI
    0.37-0.04-9.76%
    BLL.SI
    0.285-0.030-9.52%
    BFU.SI
    0.215-0.020-8.51%
    AWI.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4176-0.0032-0.23%
    USDSGD=X
    1.5204-0.0023-0.15%
    EURSGD=X
    1.7867-0.0154-0.85%
    GBPSGD=X
    80.3580+0.107+0.13%
    SGDJPY=X
    5.4701+0.0141+0.26%
    SGDHKD=X
    3.1219+0.0122+0.39%
    SGDMYR=X
    9,397.5820-48.4443-0.51%
    SGDIDR=X
    4.8549+0.0129+0.27%
    SGDCNY=X
    1.0568-0.0034-0.32%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,172.50+4.90+0.42%
    GCZ16.CMX
    16.65-0.09-0.57%
    SIZ16.CMX
    82.15-0.64-0.77%
    ^XAU
    2.68+0.01+0.45%
    HGZ16.CMX
    50.81-0.12-0.24%
    CLF17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.840.00
    ^FVX
    2.40+0.01
    ^TNX
    3.08+0.03
    ^TYX