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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    • Currencies
      Currencies
      NamePriceChange% Chg
      1.4209-0.0037-0.26%
      USDSGD=X
      1.52200.000.00%
      EURSGD=X
      1.75910.000.00%
      GBPSGD=X
      80.1300-0.037-0.05%
      SGDJPY=X
      5.4582+0.0192+0.35%
      SGDHKD=X
      3.1212+0.0033+0.11%
      SGDMYR=X
      9,416.7539-19.9912-0.21%
      SGDIDR=X
      4.8261+0.0052+0.11%
      SGDCNY=X
      1.0746-0.0013-0.12%
      AUDSGD=X
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      GCG17.CMX
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      CLG17.NYM
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