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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 DailyFX.com and twice every trading day inside DailyFX PLUS.


Euro Uptrend Remains Intact, but next Move Pivotal

Euro Uptrend Remains Intact, but next Move Pivotal

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EURUSD - The ratio of long to short positions in the EURUSD stands at -1.73 as 37% of traders are long. Yesterday the ratio was -1.72; 37% of open positions were long. Long positions are 2.2% lower than yesterday and 0.7% below levels seen last week. Short positions are 1.7% lower than yesterday and 14.3% below levels seen last week. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the EURUSD may continue higher. The trading crowd has grown further net-short from yesterday but moderated since last week. The important week-over-week shift warns that the Euro may test lows versus the US Dollar—particularly as the EURUSD continues to hold below key $1.12 resistance.

See next currency section: GBPUSD - British Pound Forecast Depends on how it Finishes the Week

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