As many retail traders have placed their faith and their money on the notion of a EUR/USD Double Top in the 1.4826 area, Price has decided to ignore this Chart Pattern and move higher. The results are that stops placed above the Double Top highs are being triggered starting a 'Short Squeeze Rally". The FXCM Speculative Sentiment indicator shows that 2 traders are short for every 1 trader who is long the EUR/USD. Since SSI is a contrarian indicator, EUR/USD should continue to rise. Look for the psychological 1.5000 handle to come into play in the coming days.
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