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Euro Targets Lows as Crowds Buy into Post-ECB Tumble

Euro Targets Lows as Crowds Buy into Post-ECB Tumble

2014-04-03 15:30:00
David Rodriguez, Head of Product
ssi_eur-usd_body_Picture_8.png, Euro Targets Lows as Crowds Buy into Post-ECB Tumble

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EURUSDRetail FX trading crowds have bought into recent Euro weakness against the US Dollar, and a contrarian view of crowd sentiment favors further EURUSD weakness.

Trade Implications – EURUSD: Retail long interest in the Euro now stands near multi-month highs as short interest is at similar lows. The Euro break below $1.3750 leaves our technical forecast bearish, and indeed a run towards February reaction lows near $1.3650, $1.3560, and $1.3480 seems likely.

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

ssi_eur-usd_body_Picture_9.png, Euro Targets Lows as Crowds Buy into Post-ECB Tumble

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