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
    1.3783+0.0006+0.04%
    USDSGD=X
    1.5111+0.002+0.13%
    EURSGD=X
    2.1501+0.0027+0.12%
    GBPSGD=X
    89.9474-0.0577-0.06%
    SGDJPY=X
    5.6253-0.0025-0.04%
    SGDHKD=X
    2.7953-0.004-0.14%
    SGDMYR=X
    9,785.5625+4.749+0.05%
    SGDIDR=X
    4.5046-0.0029-0.07%
    SGDCNY=X
    1.0166+0.014+1.40%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,088.60-0.80-0.07%
    GCQ15.CMX
    14.57+0.01+0.09%
    SIZ15.CMX
    45.54-2.03-4.26%
    ^XAU
    2.36+0.01+0.55%
    HGU15.CMX
    46.01+0.45+0.99%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.51-0.03
    ^FVX
    2.15-0.05
    ^TNX
    2.86-0.07
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.585+0.115+24.47%
    N21.SI
    2.34+0.14+6.36%
    MC0.SI
    0.325+0.015+4.84%
    E5H.SI
    0.310.000.00%
    5WA.SI
    0.125+0.002+1.63%
    5DN.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.585+0.115+24.47%
    N21.SI
    0.445+0.065+17.11%
    AZT.SI
    0.21+0.03+16.02%
    F86.SI
    0.29+0.03+9.43%
    42D.SI
    0.185+0.015+8.82%
    DU4.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.23-0.04-14.81%
    5WR.SI
    0.50-0.06-10.71%
    EH5.SI
    0.163-0.017-9.44%
    5KU.SI
    0.21-0.02-8.70%
    5LY.SI
    0.42-0.04-8.70%
    AZZ.SI