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Euro Poised to Break Higher - Watch $1.32

Euro Poised to Break Higher - Watch $1.32

David Rodriguez, Head of Product
ssi_eur-usd_body_Picture_13.png, Euro Poised to Break Higher - Watch $1.32

EURUSD – Retail forex traders have recently sold into Euro strength versus the US Dollar, and a contrarian view of crowd sentiment leaves us in favor of EURUSD gains.

Trade Implications – EURUSD: Traders have remained short the Euro against the US Dollar since it crossed above the $1.28 mark, and as long as that remains the case we’ll remain in favor of EURUSD strength. Our sentiment-based Momentum2 system has had two attempts at getting long Euros, and it will likely continue to do so.

--- Written by David Rodriguez, Quantitative Strategist for

ssi_eur-usd_body_Picture_14.png, Euro Poised to Break Higher - Watch $1.32

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