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Euro Can’t Fall Forever - Here's What to Watch

Euro Can’t Fall Forever - Here's What to Watch

2014-09-25 15:30:00
David Rodriguez, Head of Product
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Euro Can’t Fall Forever - Here's What to Watch

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EURUSDThe Euro continues to tumble versus the US Dollar, and as long as the retail forex trading crowd keeps buying we’ll watch for further losses.

Trade Implications – EURUSD: Yesterday we highlighted a key number of factors that favor a potentially significant Euro turnaround. And yet the single currency continues to hit fresh lows as we head into a key confluence of market cycles. We can’t responsibly advocate buying at these levels, but we’re keeping a close eye on the next moves in retail sentiment. If we see the crowd capitulate and sell, we may in fact get long on the clear risk of a bounce.

See next currency section: GBPUSD - British Pound May Have Set a Significant Low versus Dollar

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

Euro Can’t Fall Forever - Here's What to Watch

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

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