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We Like Trading the Euro Higher

We Like Trading the Euro Higher

2013-10-24 15:00:00
David Rodriguez, Head of Product
Share:
ssi_eur-usd_body_Picture_13.png, We Like Trading the Euro Higher

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

EURUSDRetail FX traders have never been more short the Euro against the US Dollar, and our contrarian sentiment-based trading strategies continue buying into EURUSD gains.

Trade Implications – EURUSD: When the crowd is so heavily positioned to the short side, we see little choice but to favor further gains. Indeed our SSI-based Momentum2 strategy remains long EURUSD from $1.3627.

The crowd is often most short at major market tops, but it’s critical to note that sentiment extremes are only clear in hindsight. We remain bullish the Euro against the US Dollar until further notice.

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

ssi_eur-usd_body_Picture_14.png, We Like Trading the Euro Higher

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

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