Euro Targets Fresh Highs versus US Dollar
Crowds first turned short the Euro as it crossed above the $1.25 mark through mid-September, and overall short interest is now at its highest levels since January.
There is arguably risk of a EURUSD rally exhaustion near the $1.32 mark, but clearly one-sided crowd sentiment gives us little reason to go against our long-standing bullish Euro bias.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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