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
More View more
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 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