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DailyFX Home / Forex Technical Analysis / Speculative Sentiment Index

SSI: The Speculative Sentiment Index

Symbol LastWeek Present %Long Change:
Open Interest
Signals Chart Links

The SSI is reported Every Thursday at and twice every trading day inside DailyFX PLUS.

Euro at Potentially Significant Turning Point

Euro at Potentially Significant Turning Point

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EURUSDThe Euro trades near significant lows versus the US Dollar, and a substantial shift in forex crowd positions warns that its next move may be higher.

Trade Implications – EURUSD: The majority of retail traders have remained long EURUSD since it traded below $1.36, but a big jump in selling warns that traders may soon turn short. A contrarian view of herd sentiment has kept us looking for continued weakness, but a flip in those positions would point to strength. Key technical levels to watch are post-ECB highs at $1.2990, while a break below yearly lows of $1.2860 would negate our calls for a bounce.

See next currency section: GBPUSD - British Pound Won’t Go Quietly - Risk of Bounce Grows

--- Written by David Rodriguez, Quantitative Strategist for

Euro at Potentially Significant Turning Point

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