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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
It’s Time for the Euro to Tell us Where it’s Headed

It’s Time for the Euro to Tell us Where it’s Headed

David Rodriguez, Head of Product
ssi_eur-usd_body_Picture_12.png, It’s Time for the Euro to Tell us Where it’s Headed

EURUSD – Retail forex traders have sold into the most recent Euro bounce versus the US Dollar, and the sudden shift in crowd positioning gives us pause in our previous calls for a major EURUSD top.

Trade Implications – EURUSD: We’ll use our proprietary Speculative Sentiment Index data as a contrarian indicator to price action; if everyone’s selling, we’ll typically look to buy. And last week we claimed that a surge in EURUSD buying confirmed the top.

Our sentiment-based Momentum2 trading system did well in going short EUR from $1.3270, but we’ll need to see a further pickup in crowd EURUSD buying to feel confident in continued Dollar strength—particularly as the pair trades at its key 200-day Simple Moving Average.

--- Written by David Rodriguez, Quantitative Strategist for

ssi_eur-usd_body_Picture_13.png, It’s Time for the Euro to Tell us Where it’s Headed

Automate our SSI-based trading strategies via Mirror Trader free of charge

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

Facebook at

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