Euro is an Attractive Buy at these Levels
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Trade Implications – EURUSD: With FX volatility prices near record-lows we think it is unlikely the Euro/US Dollar breaks significantly beyond its narrow trading range between $1.3580 and $1.3700.
Traders have remained net-short the EURUSD since the pair set a low near $1.35 in early June, and a contrarian view of crowd sentiment favors gains. The fact that we trade almost squarely at the bottom of the pair’s monthly range makes a long position attractive against $1.3580.
See next currency section: GBPUSD - British Pound Rally not Done Just Yet
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.