FOREX ANALYSIS: Euro Forecast to Rally as Crowds Sell

ssi_eur-usd_body_Picture_5.png, FOREX ANALYSIS: Euro Forecast to Rally as Crowds Sell

Retail forex trading crowds have consistently sold the Euro against the US Dollar (ticker: USDOLLAR), and our sentiment-based trading strategies continue to buy into EURUSD strength. Indeed, traders first turned net-short the Euro as it crossed above the $1.27 mark through mid-November and the pair now trades near 8-month highs.

Given the strong EURUSD uptrend and clearly one-sided crowd sentiment, we remain in favor of buying Euro dips against the US Dollar.

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

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3712+0.0009+0.07%
    USDSGD=X
    1.4911-0.0114-0.76%
    EURSGD=X
    2.0355-0.0039-0.19%
    GBPSGD=X
    86.9672-0.2286-0.26%
    SGDJPY=X
    5.6555-0.0042-0.07%
    SGDHKD=X
    2.6746+0.0034+0.13%
    SGDMYR=X
    9,501.1543+38.2793+0.40%
    SGDIDR=X
    4.5279-0.006-0.13%
    SGDCNY=X
    1.0729-0.0011-0.10%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,202.70-2.10-0.17%
    GCJ15.CMX
    17.08-0.06-0.35%
    SIK15.CMX
    68.39-1.10-1.58%
    ^XAU
    2.81-0.01-0.21%
    HGK15.CMX
    51.00+1.79+3.64%
    CLK15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.47+0.06
    ^FVX
    2.01+0.09
    ^TNX
    2.60+0.10
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.290.00+1.75%
    5WA.SI
    0.172+0.022+14.67%
    AK3.SI
    0.93+0.03+2.76%
    N21.SI
    0.163-0.001-0.61%
    5GB.SI
    0.755+0.005+0.67%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.129+0.019+17.27%
    T77.SI
    0.24+0.03+17.07%
    5PL.SI
    0.172+0.022+14.67%
    AK3.SI
    0.127+0.014+12.39%
    5NV.SI
    0.22+0.02+12.24%
    5TF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.11-0.02-15.38%
    O2I.SI
    0.21-0.03-10.64%
    E28.SI
    0.50-0.04-6.54%
    NC2.SI
    0.118-0.007-5.60%
    5PO.SI
    0.205-0.010-4.65%
    MR8.SI