Euro Breaks $1.2800. Now What?
- Euro tumbles to fresh yearly lows as Dollar surges
- Yet key market cycles and major sentiment extremes warn of a turn
- Here’s what we’re watching for the Euro’s next moves
The Euro broke the psychologically significant $1.2800 mark on its way to fresh yearly lows. What’s next?
Euro Hits Fresh Yearly Lows and Tests Potentially Critical Price Support
Source: FXCM Trading Station Desktop, Prepared by David Rodriguez.
Derivatives Traders Not Betting on or Hedging Against Further EURUSD Weakness
Data source: Bloomberg, Prepared by David Rodriguez
Critical to Watch Trader Sentiment – Can the Crowd Point to an Important Euro Reversal?
Source: FXCM Retail FX Positioning Data, Prepared by David Rodriguez.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading strategies. Find out more about our automated sentiment-based strategies on DailyFX PLUS.
Contact and follow David via Twitter: https://twitter.com/DRodriguezFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.