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
    1.3415+0.0043+0.33%
    USDSGD=X
    1.4729+0.005+0.34%
    EURSGD=X
    2.0752+0.0063+0.30%
    GBPSGD=X
    90.5900-0.3051-0.34%
    SGDJPY=X
    5.7782-0.0191-0.33%
    SGDHKD=X
    2.6938+0.00010.00%
    SGDMYR=X
    9,827.4648-8.0215-0.08%
    SGDIDR=X
    4.6236-0.0116-0.25%
    SGDCNY=X
    1.0499+0.0051+0.49%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,204.00+1.30+0.11%
    GCM15.CMX
    17.03-0.04-0.21%
    SIM15.CMX
    71.25-0.60-0.84%
    ^XAU
    2.81-0.04-1.39%
    HGN15.CMX
    61.30-0.70-1.13%
    CLZ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.56+0.05
    ^FVX
    2.21+0.03
    ^TNX
    2.99+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.335+0.040+13.56%
    AFC.SI
    0.139+0.004+2.96%
    5MM.SI
    0.290.000.00%
    5WA.SI
    0.26+0.02+8.33%
    B0Z.SI
    0.21-0.01-2.33%
    5GB.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.325+0.055+20.37%
    AYL.SI
    0.15+0.02+15.38%
    5OY.SI
    0.60+0.08+14.29%
    AXC.SI
    0.335+0.040+13.56%
    AFC.SI
    1.53+0.18+13.33%
    AYN.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.19-0.06-24.00%
    41H.SI
    0.225-0.070-23.73%
    AWJ.SI
    0.21-0.06-22.22%
    AVX.SI
    0.25-0.04-13.79%
    E94.SI
    0.119-0.016-11.85%
    5IF.SI