Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Trade Implications – EURUSD: A quiet month of April has kept the single currency in a tight range, and though it trades near multi-year highs we note that EURUSD upward momentum is slowing.
As long as crowds continue selling we’ll continue to watch for further Euro gains. Our Senior Technical Strategist writes that a Euro test of resistance at $1.3966 and perhaps $1.4000 seems likely before an important reversal.
See next currency section: GBPUSD - British Pound Likely to Trade to Fresh Peaks
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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