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Clear Euro Direction May Wait Break of $1.2875

Clear Euro Direction May Wait Break of $1.2875

2013-03-14 14:30:00
David Rodriguez, Head of Product
Share:
ssi_eur-usd_body_Picture_14.png, Clear Euro Direction May Wait Break of $1.2875

EURUSD – Choppy price action has led to similarly directionless forex trader sentiment, and Euro/US Dollar positioning is mostly unchanged since last week. The fact that trading crowds have most recently bought into EURUSD declines gives us a modestly bearish bias.

Trade Implications – EURUSD: Our SSI-based ‘Momentum2’ most recently bought the Euro only to be stopped out as the pair broke lower. Our sentiment-based trading strategies tend to do well in times of strong volatility and/or market trends, and we may need to see a EURUSD break above $1.3064 or below $1.2875 to see an acceleration in either direction.

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

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ssi_eur-usd_body_1a.png, Clear Euro Direction May Wait Break of $1.2875

View how to automate the high-volatility Breakout2 Trading System via our previous article and webinar recording.

Auto trade the trend reversal-trading Momentum2system via our previous article and webinar recording.

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