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
    1.3473+0.0052+0.38%
    USDSGD=X
    1.5573+0.0103+0.66%
    EURSGD=X
    1.9720+0.0037+0.19%
    GBPSGD=X
    78.5899-0.7308-0.92%
    SGDJPY=X
    5.7587-0.0228-0.39%
    SGDHKD=X
    2.9411+0.0216+0.74%
    SGDMYR=X
    9,793.7705+20.2471+0.21%
    SGDIDR=X
    4.8129-0.0108-0.22%
    SGDCNY=X
    1.0152-0.0132-1.28%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,300.40+4.60+0.35%
    GCM16.CMX
    17.60-0.08-0.44%
    SIN16.CMX
    90.73-2.12-2.28%
    ^XAU
    2.24-0.02-1.04%
    HGN16.CMX
    44.42-0.36-0.80%
    CLM16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.32+0.04
    ^FVX
    1.87+0.05
    ^TNX
    2.72+0.05
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.106-0.001-0.93%
    5I0.SI
    0.43-0.03-6.52%
    N21.SI
    1.295+0.010+0.78%
    N03.SI
    0.099-0.003-2.94%
    5DN.SI
    0.133+0.002+1.53%
    40E.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.78+0.08+12.23%
    5ER.SI
    0.23+0.03+12.20%
    5UZ.SI
    0.187+0.017+10.00%
    A55.SI
    0.33+0.03+10.00%
    BOU.SI
    0.58+0.04+8.41%
    BEI.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.166-0.054-24.55%
    O08.SI
    0.40-0.10-20.00%
    AWC.SI
    0.225-0.045-16.67%
    S46.SI
    0.175-0.024-12.06%
    D79.SI
    0.25-0.03-10.71%
    5PC.SI