Euro Likely to Test Fresh Peaks versus US Dollar
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Trade Implications – EURUSD: There are nearly 3 traders short the Euro versus the US Dollar for every one that is long, and we’ll maintain our contrarian bullish bias as long as crowds continue to sell.
Our sentiment-based Momentum2strategy is once again likely to get long EURUSD as crowds sell into strength.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.