News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Heads Up:🇮🇹 Inflation Rate YoY Prel (JUL) due at 09:00 GMT (15min) Expected: 1.7% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2021-07-30
  • Heads Up:💶 Inflation Rate MoM Flash (JUL) due at 09:00 GMT (15min) Previous: 0.3% https://www.dailyfx.com/economic-calendar#2021-07-30
  • Heads Up:💶 Inflation Rate YoY Flash (JUL) due at 09:00 GMT (15min) Expected: 2% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-07-30
  • Heads Up:💶 Unemployment Rate (JUN) due at 09:00 GMT (15min) Expected: 7.9% Previous: 7.9% https://www.dailyfx.com/economic-calendar#2021-07-30
  • Heads Up:💶 Core Inflation Rate YoY Flash (JUL) due at 09:00 GMT (15min) Expected: 0.8% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-07-30
  • Heads Up:💶 GDP Growth Rate QoQ Flash (Q2) due at 09:00 GMT (15min) Expected: 1.5% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2021-07-30
  • Heads Up:💶 GDP Growth Rate YoY Flash (Q2) due at 09:00 GMT (15min) Expected: 13.2% Previous: -1.3% https://www.dailyfx.com/economic-calendar#2021-07-30
  • 🇭🇰 GDP Growth Rate QoQ Adv (Q2) Actual: -1% Previous: 5.4% https://www.dailyfx.com/economic-calendar#2021-07-30
  • 🇭🇰 GDP Growth Rate YoY Adv (Q2) Actual: 7.5% Previous: 7.9% https://www.dailyfx.com/economic-calendar#2021-07-30
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/3vb2INNJUs
Euro Targets Lows as Forex Crowds Turn

Euro Targets Lows as Forex Crowds Turn

David Rodriguez, Head of Product
ssi_eur-usd_body_Picture_7.png, Euro Targets Lows as Forex Crowds Turn

Retail forex trading crowds have consistently bought the downtrodden Euro against the resurgent US Dollar (ticker: USDOLLAR), giving steady contrarian signal that the Euro/US Dollar exchange rate may hit fresh lows. Our proprietary Speculative Sentiment Index data shows that the retail crowd flipped net-long Euros as the pair dropped below $1.26; the crowd has otherwise been mostly net-short for much of the month of June as the Euro corrected off of multi-year lows.

The consistent push towards crowd Euro buying gives us confidence that the EURUSD may continue to fresh troughs, but a key stumbling block has been a clear correction higher for the Euro and lower for the US Dollar. Given substantial event risk with the ongoing European summit, we see scope for a larger breakdown. The clear caveat in our forecasts comes from exceedingly low volatility expectations as seen through FX options markets.

Low volatility makes large moves less likely, but conditions can and do change quite rapidly. There remain clear risks of a larger breakdown, and retail trader sentiment supports calls for Euro weakness.

How do we interpret and trade with the SSI? Watch an FXCM Expo Presentation that explains the SSI.

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

To receive the SSI via e-mail and other reports from author David Rodríguez, e-mail subject line “Distribution List” to drodriguez@dailyfx.com; Contact David via Twitter at http://www.twitter.com/DRodriguezFX

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

DISCLOSURES