FOREX ALERTS >>
DailyFX Plus Login

eur ssi

Article

Euro Forecast Remains Neutral on Balanced Forex Positioning
Thursday, 29 January 2009 14:22:54 GMT  |  David Rodriguez, Quantitative Analyst
Delicious
Facebook

EUR/USD ratio: 1.00
Trading Forecast: Bearish

Forex_Trading_2009-01-29_2

EURUSD – Our forex sentiment-based forecast for the Euro/US Dollar has remained relatively neutral, as trading crowds remain effectively balanced in their positioning on the pair. The ratio of long to short positions in the EURUSD stands at 1.00 as an equal number of traders are long and short the EUR/USD. This has remained unchanged since yesterday, but we do note that long positions have grown an impressive 24.2 percent since last week. Increasingly EUR/USD-bullish crowd sentiment gives us a modestly bearish contrarian trading bias, but positioning is nowhere near extreme enough to make a forceful prediction.  Our sentiment-based forex trading signals are accordingly flat the Euro/US dollar through current price action. 

More Articles

Feedback Form