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Euro Likely to Test Fresh Peaks versus US Dollar

Euro Likely to Test Fresh Peaks versus US Dollar

David Rodriguez, Head of Product
ssi_eur-usd_body_Picture_16.png, Euro Likely to Test Fresh Peaks versus US Dollar

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EURUSDRetail FX crowds continue selling into Euro strength, giving us steady contrarian signal that the EURUSD may test further highs.

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

ssi_eur-usd_body_Picture_6.png, Euro Likely to Test Fresh Peaks versus US Dollar

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