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Euro Forecast Bullish Against US Dollar
Thursday, 30 April 2009 14:25:18 GMT  |  David Rodriguez, Quantitative Strategist
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EUR/USD ratio: -1.37
Trading Forecast: Bullish

04-30-09_ssi_2

EURUSD – Our forex trading signals bought the Euro against the US Dollar through recent advances, but a more recent decline leaves our algorithmic trading systems flat the EUR/USD. The ratio of long to short positions in the EURUSD stands at -1.36 as nearly 58% of traders are short. Yesterday, the ratio was at -1.43 as 59% of open positions were short. In detail, long positions are 2.4% higher than yesterday and 8.4% weaker since last week. Short positions are 2.5% lower than yesterday and 2.7% stronger since last week. Open interest is 0.5% weaker than yesterday and 6.6% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.

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