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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Euro Finally Makes the Move We’ve Been Watching

Euro Finally Makes the Move We’ve Been Watching

David Rodriguez, Head of Product
ssi_eur-usd_body_Picture_19.png, Euro Finally Makes the Move We’ve Been Watching

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

EURUSDA major shift in retail forex trader sentiment warns that the Euro likely set an important price extreme and may continue lower.

Trade Implications – EURUSD: In the past weeks we’ve noted that crowds had never been more short the Euro. We typically go against the herd; if everyone’s short we prefer to be long and vice versa. Yet history will likewise show that the crowd is often the most short at the top and long at the bottom.

The fact that we’ve seen a material shift towards short covering and crowd buying suggests that the recent record short position did indeed coincide with a price top. Indeed our purely sentiment-based Momentum2 system is now short from $1.3826, and our technical focus leaves us watching for further Euro weakness.

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

ssi_eur-usd_body_Picture_6.png, Euro Finally Makes the Move We’ve Been Watching

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 http://www.twitter.com/DRodriguezFX

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

DISCLOSURES