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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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3704-0.0006-0.04%
    USDSGD=X
    1.4826-0.0081-0.55%
    EURSGD=X
    2.0392+0.0038+0.19%
    GBPSGD=X
    87.0802+0.1071+0.12%
    SGDJPY=X
    5.6578+0.0019+0.03%
    SGDHKD=X
    2.6893+0.0144+0.54%
    SGDMYR=X
    9,496.8896-5.3008-0.06%
    SGDIDR=X
    4.5384+0.0086+0.19%
    SGDCNY=X
    1.0684-0.0044-0.41%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,197.30-7.50-0.62%
    GCJ15.CMX
    17.00-0.14-0.82%
    SIK15.CMX
    68.39-1.10-1.58%
    ^XAU
    2.79-0.02-0.60%
    HGK15.CMX
    50.42-1.01-1.96%
    CLK15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.47+0.06
    ^FVX
    2.01+0.09
    ^TNX
    2.60+0.10
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.435+0.030+7.41%
    E5H.SI
    0.131+0.015+12.93%
    E13.SI
    0.167+0.004+2.45%
    5GB.SI
    0.285-0.005-1.72%
    5WA.SI
    0.945+0.015+1.61%
    N21.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.31+0.08+34.78%
    5PD.SI
    0.131+0.015+12.93%
    E13.SI
    0.255+0.025+10.87%
    D79.SI
    0.39+0.03+9.86%
    D03.SI
    0.435+0.030+7.41%
    E5H.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.135-0.007-4.93%
    K14.SI
    1.862-0.095-4.85%
    O9D.SI
    0.515-0.025-4.63%
    R07.SI
    0.22-0.01-4.35%
    M14.SI
    0.225-0.010-4.26%
    DU4.SI