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 MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.170.00+3.03%
    N21.SI
    0.20+0.01+3.09%
    SK3.SI
    0.98-0.01-1.51%
    G13.SI
    0.425-0.015-3.41%
    E5H.SI
    0.3750.0000.00%
    5ME.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.30+0.07+30.43%
    BLZ.SI
    0.445+0.075+20.27%
    BLL.SI
    0.265+0.035+15.22%
    BQN.SI
    0.49+0.06+13.95%
    F03.SI
    0.188+0.017+9.94%
    KJ5.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.44-0.04-8.33%
    573.SI
    0.15-0.01-6.25%
    M11.SI
    0.30-0.02-6.25%
    BTG.SI
    0.26-0.02-5.45%
    C13.SI
    0.36-0.02-5.26%
    BBP.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4277+0.0038+0.27%
    USDSGD=X
    1.5094-0.0015-0.10%
    EURSGD=X
    1.7975+0.0078+0.44%
    GBPSGD=X
    80.3670+0.244+0.30%
    SGDJPY=X
    5.4332-0.0095-0.17%
    SGDHKD=X
    3.0972-0.0083-0.27%
    SGDMYR=X
    9,333.7686-0.0830.00%
    SGDIDR=X
    4.8340+0.0043+0.09%
    SGDCNY=X
    1.0672+0.0061+0.57%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,163.70-6.10-0.52%
    GCZ16.CMX
    17.020.00-0.03%
    SIZ16.CMX
    82.57-0.01-0.01%
    ^XAU
    2.64+0.02+0.84%
    HGZ16.CMX
    51.35+0.51+1.00%
    CLF17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.82+0.02
    ^FVX
    2.39+0.04
    ^TNX
    3.09+0.06
    ^TYX