Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Euro Remains a Sell versus US Dollar for this Reason

Euro Remains a Sell versus US Dollar for this Reason

David Rodriguez, Head of Product

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

EURUSDRetail FX traders continue buying aggressively into Euro weakness versus the US Dollar, and a contrarian view of crowd sentiment keeps us watching for EURUSD losses.

Trade Implications – EURUSD: Our trader sample shows that crowds are near their most net-long the EURUSD since it traded below $1.30 through early September, and as long as traders continue to buy we’ll watch for further weakness.

Our Senior Market Strategist warns that failure to finish below $1.2000 leaves the EURUSD at risk of a short-term bounce. We would nonetheless need to see an important shift in retail FX sentiment before calling for a sustained reversal.

See next currency section: GBPUSD - British Pound Forecast to Fall even Further versus Dollar

--- 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.

DISCLOSURES