FOREX ANALYSIS: Euro Forecast Remains Bullish as Crowds Sell

ssi_eur-usd_body_Picture_7.png, FOREX ANALYSIS: Euro Forecast Remains Bullish as Crowds Sell

Retail forex traders remain heavily long the US Dollar (ticker: USDOLLAR) against the Euro and most major counterparts—providing consistent contrarian signal that the USD may hit further lows. Indeed, the Euro now trades at 8-month highs as there are nearly 3 retail traders short for every one that is long.

Our SSI-based trading strategies recently closed their EURUSD-long positions out at a gain, and consistent crowd sentiment leaves is in favor of further EURUSD strength.

--- 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
    1.4124-0.0002-0.02%
    USDSGD=X
    1.5939-0.004-0.25%
    EURSGD=X
    2.1633+0.0011+0.05%
    GBPSGD=X
    85.0838+0.5582+0.66%
    SGDJPY=X
    5.4871+0.001+0.02%
    SGDHKD=X
    2.9622-0.0065-0.22%
    SGDMYR=X
    9,983.9287+44.0625+0.44%
    SGDIDR=X
    4.5043-0.0025-0.05%
    SGDCNY=X
    0.9930+0.002+0.21%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,138.30-1.50-0.13%
    GCZ15.CMX
    14.56-0.06-0.41%
    SIZ15.CMX
    46.81-1.62-3.34%
    ^XAU
    2.310.00+0.15%
    HGZ15.CMX
    44.39-1.02-2.25%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.50-0.04
    ^FVX
    2.17-0.03
    ^TNX
    2.930.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.132+0.004+3.12%
    5DN.SI
    0.310.00-1.59%
    5WA.SI
    0.535+0.015+2.88%
    N21.SI
    0.3050.0000.00%
    E5H.SI
    0.750.00+0.67%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.485+0.055+12.79%
    MN5.SI
    0.255+0.025+10.87%
    L38.SI
    0.20+0.02+8.11%
    5OY.SI
    0.80+0.07+10.34%
    AVM.SI
    0.575+0.045+8.49%
    5WF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.09-0.02-18.18%
    F10.SI
    0.52-0.11-17.46%
    AXZ.SI
    0.091-0.019-17.27%
    T77.SI
    0.25-0.05-16.67%
    5VI.SI
    0.17-0.03-15.00%
    5G1.SI