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
    1.3577-0.0034-0.25%
    USDSGD=X
    1.4949-0.0014-0.09%
    EURSGD=X
    1.7776-0.0099-0.55%
    GBPSGD=X
    76.7990-0.888-1.14%
    SGDJPY=X
    5.7101+0.0151+0.27%
    SGDHKD=X
    2.9944-0.0047-0.16%
    SGDMYR=X
    9,676.1816+26.5645+0.28%
    SGDIDR=X
    4.9152+0.0096+0.20%
    SGDCNY=X
    1.0218+0.0049+0.48%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,319.00-0.50-0.04%
    GCQ16.CMX
    19.68+0.04+0.19%
    SIU16.CMX
    99.89-3.85-3.71%
    ^XAU
    2.210.00-0.09%
    HGU16.CMX
    43.18+0.05+0.12%
    CLU16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.14+0.02
    ^FVX
    1.570.00
    ^TNX
    2.290.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.48+0.04+9.09%
    5TP.SI
    0.167-0.001-0.60%
    N21.SI
    1.035+0.030+2.99%
    Y92.SI
    0.79-0.01-1.25%
    G13.SI
    3.16-0.02-0.63%
    C31.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.38+0.05+15.15%
    BFU.SI
    0.29+0.03+13.73%
    S71.SI
    0.445+0.050+12.66%
    BHU.SI
    0.48+0.04+9.09%
    5TP.SI
    0.23-0.04-14.81%
    BQN.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.19-0.03-13.64%
    BDN.SI
    0.16-0.02-9.60%
    O08.SI
    0.50-0.05-9.09%
    AWZ.SI
    0.106-0.010-8.62%
    BEH.SI
    0.161-0.014-8.00%
    AWS.SI