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
    1.3654+0.0022+0.17%
    USDSGD=X
    1.5271+0.0028+0.19%
    EURSGD=X
    2.0969-0.0054-0.25%
    GBPSGD=X
    87.9752+0.1643+0.19%
    SGDJPY=X
    5.6803-0.0085-0.15%
    SGDHKD=X
    2.6571+0.0042+0.16%
    SGDMYR=X
    9,529.0439+0.7598+0.01%
    SGDIDR=X
    4.5942-0.002-0.04%
    SGDCNY=X
    1.0614-0.0023-0.22%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,207.40-5.70-0.47%
    GCJ15.CMX
    16.50-0.06-0.35%
    SIK15.CMX
    75.93-1.00-1.30%
    ^XAU
    2.70+0.01+0.30%
    HGK15.CMX
    50.43+0.67+1.35%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.57+0.06
    ^FVX
    2.07+0.06
    ^TNX
    2.66+0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.945-0.030-3.08%
    N21.SI
    0.400.00-1.23%
    E5H.SI
    0.280.000.00%
    5WA.SI
    0.975-0.010-1.02%
    G13.SI
    4.24+0.02+0.47%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.184+0.072+64.29%
    A59.SI
    0.225+0.035+18.42%
    5WD.SI
    0.142+0.020+16.39%
    5IF.SI
    0.34+0.04+13.33%
    543.SI
    0.445+0.045+11.25%
    5FQ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.117-0.148-55.85%
    F3V.SI
    0.385-0.095-19.79%
    A7S.SI
    0.345-0.085-19.77%
    T4B.SI
    0.30-0.05-14.29%
    Y06.SI
    0.12-0.02-13.04%
    T77.SI