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We're Buying Euro as Crowds Go in Opposite Direction

We're Buying Euro as Crowds Go in Opposite Direction

2013-04-11 16:00:00
David Rodriguez, Head of Product
Share:
ssi_eur-usd_body_Picture_12.png, We're Buying Euro as Crowds Go in Opposite Direction

EURUSD – Forex trading crowds have sold aggressively into the Euro rally against the US Dollar (ticker: USDOLLAR), and our contrarian trading systems have done well going in the opposite direction.

Trade Implications – EURUSD: Our purely sentiment-based Momentum2 strategy was the first to buy into Euro strength at $1.2877 and then again at $1.2938, while our volatility-friendly Breakout2 system flipped direction and bought Euro from $1.2942.

Our Senior Technical Strategist advocates remaining bullish as long as the EURUSD remains above $1.3025.

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

Download all of our Sentiment-based trading strategies free via an ongoing promo on FXCMApps.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

ssi_eur-usd_body_1a.png, We're Buying Euro as Crowds Go in Opposite Direction

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.

Trade with strong trends via our Momentum1 Trading System and view an archived webinar

Use our counter-trend Range2 Trading system and view an archived webinar guide on automation

New to FX markets? Learn more in our video trading guide.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

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

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