Forex Analysis: Trading Systems buy Euro versus US Dollar

ssi_eur-usd_body_Picture_5.png, Forex Analysis: Trading Systems buy Euro versus US Dollar

EURUSD - Retail forex trading crowds remain heavily long the US Dollar (ticker: USDOLLAR) versus the Euro and other major counterparts, and a contrarian view of crowd sentiment favors continued EURUSD gains. Indeed, the FXCM Speculative Sentiment Index for the Euro stands at -2.3 as there are 2.3 traders short for every long.

Trade Implications – EURUSD: One of our sentiment-based trading strategies has most recently bought the Euro from $1.3323 with a trailing stop at the 24-hour low at approximately $1.3270. A noteworthy jump in FX volatility suggests the trade has a reasonable chance of success. , but it will be important to watch whether the Euro can clear recent reaction highs at the psychologically significant $1.34 mark.

--- 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
    1.3811-0.0005-0.04%
    USDSGD=X
    1.5371-0.0015-0.10%
    EURSGD=X
    2.0177-0.003-0.15%
    GBPSGD=X
    80.4802+0.0372+0.05%
    SGDJPY=X
    5.6248+0.0011+0.02%
    SGDHKD=X
    2.9910+0.0138+0.46%
    SGDMYR=X
    9,869.2314+2.0479+0.02%
    SGDIDR=X
    4.7671+0.0039+0.08%
    SGDCNY=X
    0.9989+0.0065+0.65%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,213.90-2.80-0.23%
    GCQ16.CMX
    16.12-0.15-0.92%
    SIN16.CMX
    79.41-2.71-3.31%
    ^XAU
    2.10-0.02-0.71%
    HGN16.CMX
    49.53+0.20+0.41%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.39+0.04
    ^FVX
    1.85+0.03
    ^TNX
    2.65+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.295+0.015+5.36%
    N21.SI
    1.025+0.015+1.49%
    C22.SI
    0.54+0.01+1.89%
    5ME.SI
    3.92+0.02+0.51%
    Z74.SI
    0.385+0.005+1.32%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    1.655+0.155+10.33%
    BAI.SI
    0.295+0.025+9.26%
    40T.SI
    0.35+0.03+7.69%
    588.SI
    0.78+0.05+7.59%
    ATL.SI
    0.22+0.02+7.32%
    S71.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.395-0.035-8.14%
    BTJ.SI
    0.285-0.035-10.94%
    S19.SI
    0.26-0.03-11.86%
    BLU.SI
    0.305-0.040-11.59%
    BBP.SI
    0.152-0.019-11.11%
    BEH.SI