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Euro Remains in the Driver’s Seat versus US Dollar

By , Quantitative Strategist
17 April 2014 14:00 GMT
ssi_eur-usd_body_Picture_13.png, Euro Remains in the Driver's Seat versus US Dollar

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EURUSDA strong majority of retail FX traders have sold into the Euro’s advance versus the US Dollar, and a contrarian view of crowd sentiment leaves our focus higher.

Trade Implications – EURUSD: Our technical focus for the Euro/Dollar exchange rate remains at key congestion and Fibonacci resistance at $1.3900; a move above would further support calls for larger EURUSD gains. Only a material shift towards retail crowd buying would change our overall bullish forecast.

See next currency section: GBPUSD - British Pound Gains are Slowing but Not Likely Over

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

ssi_eur-usd_body_Picture_14.png, Euro Remains in the Driver's Seat versus US Dollar

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17 April 2014 14:00 GMT