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.

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
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.74%, while traders in EUR/USD are at opposite extremes with 74.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Vakm17zSSC
  • Heads Up:🇺🇸 MBA Mortgage Applications (20/NOV) due at 12:00 GMT (15min) Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-11-25
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.11% Silver: 0.55% Gold: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nwOjSyoAbq
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.03% 🇯🇵JPY: -0.04% 🇨🇭CHF: -0.09% 🇨🇦CAD: -0.18% 🇦🇺AUD: -0.30% 🇬🇧GBP: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/zrfx5KPV5X
  • EU's Šefčovič: says Brexit talks are difficult but constructive $GBP
  • 🇫🇷 Unemployment Benefit Claims (OCT) Actual: -56.6K Previous: -15.2K https://www.dailyfx.com/economic-calendar#2020-11-25
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: France 40: -0.17% US 500: -0.18% Wall Street: -0.25% Germany 30: -0.36% FTSE 100: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/arymbmpUKF
  • Heads Up:🇩🇪 Bundesbank Wuermeling Speech due at 11:15 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-11-25
  • As a trader do you know when the markets let you take a break? Find out when the stock markets are closed. Check out @DailyFX holiday calendar here. https://t.co/M3ndtjxrOd https://t.co/EZ7emLN3F6
  • Heads Up:🇫🇷 Unemployment Benefit Claims (OCT) due at 11:00 GMT (15min) Previous: -15.2K https://www.dailyfx.com/economic-calendar#2020-11-25
Euro Sees Early Signs of Critical Peak - Time to Sell?

Euro Sees Early Signs of Critical Peak - Time to Sell?

2013-05-02 16:20:00
David Rodriguez, Head of Product
Share:
ssi_eur-usd_body_Picture_12.png, Euro Sees Early Signs of Critical Peak - Time to Sell?

EURUSD – An aggressive turnaround in the Euro has been met with a similarly pronounced shift in forex trading crowd positions, and our sentiment-based strategies have closed their previous EURUSD-long position.

Trade Implications – EURUSD: The Euro had finally shown signs of breaking out of its multi-week consolidative trading range—hitting fresh highs above key resistance at $1.32. Our sentiment-based Momentum2 trading system did well in going long from $1.3100, and indeed we said that said positioned remained attractive on the probabilities of a broader Dollar breakdown.

Yet that position was taken out at a small gain by its trailing stop loss, and a sharp decline in EUR short positions means that our strategies will likely remain flat through the foreseeable future. The fact that the month-to-date high of $1.3242 occurred at the US session open on the first trading day of the month in fact suggests that the month of May could bring a larger EURUSD sell-off.

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

ssi_eur-usd_body_1a.png, Euro Sees Early Signs of Critical Peak - Time to Sell?

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.

Contact David via

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

Facebook at http://www.Facebook.com/DRodriguezFX

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

DISCLOSURES