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
    1.3854+0.0045+0.32%
    USDSGD=X
    1.5050+0.0013+0.09%
    EURSGD=X
    2.1526+0.003+0.14%
    GBPSGD=X
    89.8008-0.2568-0.29%
    SGDJPY=X
    5.5968-0.0181-0.32%
    SGDHKD=X
    2.7962-0.0057-0.20%
    SGDMYR=X
    9,746.2842-38.6514-0.40%
    SGDIDR=X
    4.4822-0.0142-0.32%
    SGDCNY=X
    1.0195+0.0005+0.05%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,085.10-5.40-0.50%
    GCU15.CMX
    14.55-0.06-0.40%
    SIZ15.CMX
    45.67+0.14+0.30%
    ^XAU
    2.35-0.02-0.72%
    HGU15.CMX
    46.34+0.21+0.46%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.59+0.08
    ^FVX
    2.21+0.06
    ^TNX
    2.89+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.56-0.04-6.67%
    N21.SI
    0.845-0.055-6.11%
    G13.SI
    2.39+0.04+1.70%
    MC0.SI
    0.188+0.025+15.34%
    AFC.SI
    0.125-0.004-3.10%
    5DN.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.188+0.025+15.34%
    AFC.SI
    0.655+0.080+13.91%
    UD3.SI
    0.118+0.013+12.38%
    B32.SI
    3.83+0.37+10.69%
    U96.SI
    0.335+0.030+9.84%
    R14.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.138-0.056-28.87%
    40N.SI
    0.225-0.040-15.09%
    5WJ.SI
    0.12-0.02-13.04%
    D3W.SI
    0.535-0.065-10.83%
    T55.SI
    1.085-0.115-9.58%
    AYN.SI