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Retail Crowd Retains Enthusiasm for Shorting EUR/USD

Retail Crowd Retains Enthusiasm for Shorting EUR/USD

Christopher Vecchio, CFA, Senior Strategist
ssi_eur-usd_body_x0000_i1035.png, Retail Crowd Retains Enthusiasm for Shorting EUR/USD

EURUSDRetail forex traders are selling into Euro weakness against the US Dollar, and this acts as contrarian signal that the pair may turn higher in the near-term.

Trade Implications – EURUSD: The EURUSD broke its pre-NFP range to the upside, leading to a short-term bullish technical bias. With price holding above $1.3560 and the retail crowd becoming more short on balance, it is possible to see further highs over the coming days.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

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

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