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Euro Forecast to Fall Further Against US Dollar

Euro Forecast to Fall Further Against US Dollar

2010-05-27 14:11:00
Antonio Sousa, Chief Strategist
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 SSI 10-05-27_eurusd

The ratio of long to short positions in the EURUSD stands at 1.04 as nearly 51% of traders are long, according to the FXCM SSI which measures the positioning of thousands of retail traders. Last week, the ratio was at -1.13 as 53% of open positions were short. Retail traders have been buying the EURUSD and long positions are up by 19.7% since last week. The SSI is a contrarian indicator and signals more EURUSD losses.

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