Look for Euro to Trade Lower from Here
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Trade Implications – EURUSD: If the trading crowd is selling, we typically like to buy and vice versa. Yet our data shows that retail traders tend to do well in slow-moving markets, and EURUSD volatility currently trades near record lows.
Thus a continued hold below $1.3675 keeps our focus lower for the Euro currency as crowds sell into resistance. Until volatility returns, we’ll continue to buy near support and sell close to price ceilings across major currency pairs.
See next currency section: GBPUSD - British Pound Rally looks at Risk
--- 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
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.