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
    1.25090.000.00%
    USDSGD=X
    1.7313+0.0031+0.18%
    EURSGD=X
    2.1055+0.0042+0.20%
    GBPSGD=X
    81.5519-0.1844-0.23%
    SGDJPY=X
    6.1992+0.0003+0.01%
    SGDHKD=X
    2.5914-0.0003-0.01%
    SGDMYR=X
    9,136.9150-6.1025-0.07%
    SGDIDR=X
    4.9725-0.0005-0.01%
    SGDCNY=X
    1.1706-0.0013-0.11%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,298.80-4.70-0.36%
    GCM14.CMX
    19.52-0.11-0.56%
    SIK14.CMX
    90.83-1.04-1.14%
    ^XAU
    3.030.00+0.02%
    HGK14.CMX
    104.10+0.34+0.33%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.65+0.04
    ^FVX
    2.64+0.01
    ^TNX
    3.45-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.1170.0000.00%
    B22.SI
    0.485+0.025+5.43%
    5GJ.SI
    2.28+0.100+4.59%
    5ME.SI
    2.20+0.010+0.46%
    JS8.SI
    0.6050.0000.00%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.20+0.034+20.48%
    5WD.SI
    0.215+0.015+7.50%
    5UE.SI
    0.485+0.025+5.43%
    5GJ.SI
    0.58+0.040+7.41%
    L5I.SI
    0.68+0.035+5.43%
    5DP.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.141-0.012-7.84%
    5HH.SI
    0.112-0.008-6.67%
    5RC.SI
    0.355-0.025-6.58%
    KJ9.SI
    0.192-0.008-4.00%
    567.SI
    0.84-0.040-4.55%
    S05.SI