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Euro Likely to Test Fresh Peaks versus US Dollar

By , Quantitative Strategist
05 December 2013 15:10 GMT
ssi_eur-usd_body_Picture_16.png, Euro Likely to Test Fresh Peaks versus US Dollar

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EURUSDRetail FX crowds continue selling into Euro strength, giving us steady contrarian signal that the EURUSD may test further highs.

Trade Implications – EURUSD: There are nearly 3 traders short the Euro versus the US Dollar for every one that is long, and we’ll maintain our contrarian bullish bias as long as crowds continue to sell.

Our sentiment-based Momentum2strategy is once again likely to get long EURUSD as crowds sell into strength.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_eur-usd_body_Picture_6.png, Euro Likely to Test Fresh Peaks versus US Dollar

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05 December 2013 15:10 GMT