Euro Forecast to Fall Further against US Dollar
EURUSD – Aggressive Euro declines have been met with similarly aggressive forex crowd buying, giving one of our sentiment-based trading strategies signal to go short the EURUSD through recent trade. The ratio of long to short positions in the EURUSD stands at 1.45 as nearly 59% of traders are long. Yesterday, the ratio was at 1.49 as 60% of open positions were long. In detail, long positions are 0.4% lower than yesterday and 8.0% stronger since last week. Short positions are 2.6% higher than yesterday and 1.3% weaker since last week. Open interest is 0.8% stronger than yesterday and 10.8% below its monthly average. The SSI is a contrarian indicator and signals more EURUSD losses.
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