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
    1.2561+0.0003+0.02%
    USDSGD=X
    1.7392+0.0056+0.32%
    EURSGD=X
    2.1116-0.0013-0.06%
    GBPSGD=X
    81.5758-0.1249-0.15%
    SGDJPY=X
    6.1722-0.0414-0.67%
    SGDHKD=X
    2.6024+0.0009+0.03%
    SGDMYR=X
    9,258.4482+85.1211+0.93%
    SGDIDR=X
    4.9660-0.0011-0.02%
    SGDCNY=X
    1.1660-0.01-0.85%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,284.90+3.80+0.30%
    GCM14.CMX
    19.45+0.09+0.49%
    SIK14.CMX
    91.05+1.15+1.28%
    ^XAU
    3.04-0.01-0.29%
    HGK14.CMX
    101.60-0.15-0.15%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.75+0.02
    ^FVX
    2.73+0.01
    ^TNX
    3.50-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.121+0.001+0.83%
    B22.SI
    2.210.0000.00%
    JS8.SI
    0.161+0.003+1.90%
    5GB.SI
    0.61+0.005+0.83%
    E5H.SI
    0.143-0.002-1.38%
    545.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.21+0.016+8.25%
    F10.SI
    0.184+0.014+8.24%
    5WD.SI
    0.215+0.016+8.04%
    5UZ.SI
    0.161+0.011+7.33%
    A03.SI
    0.225+0.015+7.14%
    P36.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.245-0.055-18.33%
    T18.SI
    0.161-0.019-10.56%
    T16.SI
    0.36-0.040-10.00%
    S24.SI
    0.115-0.010-8.00%
    I54.SI
    0.181-0.014-7.18%
    CZ4.SI