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Euro Forecast to Fall Towards $1.1875

Euro Forecast to Fall Towards $1.1875

David Rodriguez, Head of Product
ssi_eurusd_body_Picture_1.png, Euro Forecast to Fall Towards $1.1875

Retail forex trading crowds remain their most net-long Euro against the US Dollar (ticker: USDOLLAR) since the single currency broke below $1.25 through the final week of May. The total level of trader long interest continues to grow, and indeed our proprietary retail trader-based Speculative Sentiment Index data shows that there are 1.8 orders long EURUSD for every short.

Retail trading crowds have remained steadily net-long EURUSD since the pair broke below $1.25, and the fact that buying continues gives us little reason to expect any significant pullback.

The EURUSD break to fresh multi-year lows gives us further confidence in our bearish outlook. Several of our SSI-based trading strategies remain short Euro from 1.2277-1.2425, and we expect the pair may decline further through short-term trading.

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

To receive the SSI via e-mail and other reports from author David Rodríguez, e-mail subject line “Distribution List” to; Contact David via Twitter at

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