Advertisement
Singapore markets closed

  • Straits Times Index

    3,280.10
    -7.65 (-0.23%)
     

  • Nikkei

    37,934.76
    +306.28 (+0.81%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • FTSE 100

    8,118.22
    +39.36 (+0.49%)
     

  • Bitcoin USD

    64,147.54
    +928.13 (+1.47%)
     

  • CMC Crypto 200

    1,387.64
    -8.89 (-0.64%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • Dow

    38,085.80
    -375.12 (-0.98%)
     

  • Nasdaq

    15,611.76
    -100.99 (-0.64%)
     

  • Gold

    2,355.30
    +12.80 (+0.55%)
     

  • Crude Oil

    84.39
    +0.82 (+0.98%)
     

  • 10-Yr Bond

    4.6770
    -0.0290 (-0.62%)
     

  • FTSE Bursa Malaysia

    1,575.16
    +5.91 (+0.38%)
     

  • Jakarta Composite Index

    7,036.08
    -119.22 (-1.67%)
     

  • PSE Index

    6,628.75
    +53.87 (+0.82%)
     

FOREX ANALYSIS: Euro Forecast Remains Bullish as Crowds Sell

David Rodriguez
ssi_eur-usd_body_Picture_7.png, 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

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

ADVERTISEMENT

New to FX markets? Learn more in our video trading guide.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.