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Buying EURUSD dips as we hold lows

Buying EURUSD dips as we hold lows

David Rodriguez, Head of Product

I like buying EURUSD dips as SSI shows traders remain aggressively short, the current ratio stands at a substantial -1.84. There are 1.84 traders short for every one long, and the trend favors further gains.

I'm currently long from market (1.3263 at time of entry), stop below the morning's high at 1.3240, initial profit targets at range highs near 1.3290. If I get stop I'll likely re-enter.

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

To receive David's reports via e-mail, send an e-mail message to drodriguez@dailyfx.com with subject line "Distribution list".

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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