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
    1.3414-0.00010.00%
    USDSGD=X
    1.4727-0.0005-0.03%
    EURSGD=X
    2.0758+0.0005+0.03%
    GBPSGD=X
    90.6072+0.00330.00%
    SGDJPY=X
    5.7786-0.00010.00%
    SGDHKD=X
    2.6934-0.0007-0.03%
    SGDMYR=X
    9,831.1641+2.6045+0.03%
    SGDIDR=X
    4.6229-0.0007-0.01%
    SGDCNY=X
    1.0504+0.0008+0.07%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,204.00+1.30+0.11%
    GCM15.CMX
    17.03-0.04-0.21%
    SIM15.CMX
    71.25-0.60-0.84%
    ^XAU
    2.81-0.04-1.39%
    HGN15.CMX
    61.30-0.70-1.13%
    CLZ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.56+0.05
    ^FVX
    2.21+0.03
    ^TNX
    2.99+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.335+0.040+13.56%
    AFC.SI
    0.139+0.004+2.96%
    5MM.SI
    0.290.000.00%
    5WA.SI
    0.26+0.02+8.33%
    B0Z.SI
    0.21-0.01-2.33%
    5GB.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.325+0.055+20.37%
    AYL.SI
    0.15+0.02+15.38%
    5OY.SI
    0.60+0.08+14.29%
    AXC.SI
    0.335+0.040+13.56%
    AFC.SI
    1.53+0.18+13.33%
    AYN.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.19-0.06-24.00%
    41H.SI
    0.225-0.070-23.73%
    AWJ.SI
    0.21-0.06-22.22%
    AVX.SI
    0.25-0.04-13.79%
    E94.SI
    0.119-0.016-11.85%
    5IF.SI