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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2575-0.0006-0.05%
    USDSGD=X
    1.74010.000.00%
    EURSGD=X
    2.1115-0.0023-0.11%
    GBPSGD=X
    81.3305+0.0385+0.05%
    SGDJPY=X
    6.1656+0.003+0.05%
    SGDHKD=X
    2.6006+0.0022+0.09%
    SGDMYR=X
    9,201.5273-54.499-0.59%
    SGDIDR=X
    4.9742+0.0073+0.15%
    SGDCNY=X
    1.1659+0.0006+0.05%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,293.80+3.20+0.25%
    GCM14.CMX
    19.60-0.09-0.45%
    SIK14.CMX
    91.62-1.25-1.35%
    ^XAU
    3.11-0.01-0.21%
    HGK14.CMX
    101.56-0.38-0.37%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.74+0.03
    ^FVX
    2.690.00
    ^TNX
    3.460.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    2.22+0.010+0.45%
    JS8.SI
    0.121-0.002-1.63%
    B22.SI
    1.16+0.010+0.87%
    U6C.SI
    1.335-0.020-1.48%
    G13.SI
    1.225+0.010+0.82%
    S53.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.21+0.020+10.53%
    F86.SI
    0.167+0.015+9.87%
    5HH.SI
    0.116+0.010+9.43%
    O2I.SI
    0.72+0.050+7.46%
    5DP.SI
    1.315+0.084+6.82%
    O9A.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.141-0.013-8.44%
    5GD.SI
    0.151-0.009-5.63%
    A03.SI
    0.295-0.015-4.84%
    5IG.SI
    0.30-0.015-4.76%
    K29.SI
    1.05-0.050-4.55%
    T14.SI