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Traders Have Been Selling the Euro but the SSI Calls for a Test of 1.42
Thursday, 27 September 2007 14:38:34 GMT  |  Antonio Sousa, Currency Analyst
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According to out proprietary customer flow database which measures the positioning of more than 20.000 traders, the ratio of long to short positions in the EURUSD stands at -2.75 as nearly 73% of traders are short. In detail, long positions are 11.4% lower than yesterday and 13.6% stronger since last week. Short positions are 3.3% higher than yesterday and 8.2% stronger since last week. Open interest is 1.1% weaker than yesterday but 13.3% above its monthly average. In the past, when traders were short and selling more, the EURUSD has rallied in the following days. The SSI is a contrarian indicator and signals a EURUSD test of 1.4200.

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For information on an FXCM Managed Fund that takes advantage of the SSI, please review our Sentiment Fund at:  http://www.FXCMManagedFunds.com or call +1 646-432-2968

 

By Antonio J F Sousa, asousa@fxcm.com

 

 

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