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DailyFX Home / Forex Technical Analysis / Speculative Sentiment Index

SSI: The Speculative Sentiment Index

Symbol LastWeek Present %Long Change:
Open Interest
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The SSI is reported Every Thursday at DailyFX.com and twice every trading day inside DailyFX PLUS.


Euro Forecast to Depreciate Further versus Dollar

Euro Forecast to Depreciate Further versus Dollar

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EURUSD – The Euro remains in a choppy trading range against the US Dollar, but a recent shift in retail FX trader sentiment warns it may test fresh lows through the days ahead.

Trade Implications – EURUSD: Last week we noted that our retail trader positioning data showed the majority of traders were buying into EUR weakness, and that was reason enough to call for further depreciation. In fairness the EUR/USD did the exact opposite for the subsequent days until reversing sharply lower once more, and timing has proven challenging in choppy markets. Our focus nonetheless remains on continued USD strength, and our Market Cycle specialist notes next week looks important from a time perspective.

See next currency section: GBPUSD - British Pound Likely to Test Critical Lows

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Euro Forecast to Depreciate Further versus Dollar

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