Euro Remains a Sell versus US Dollar for this Reason
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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
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.