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  • $EURGBP has strengthened today, rising back above the 0.8700 level for the first time in a week. The pair is trading near the highs set in mid April and late February. $EUR $GBP https://t.co/RSkMhvLQEQ
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  • $EURUSD is currently trading back above the 1.2060 level today, around its highest point since early March. This is the third time of the week that the pair has tested the 1.2060 level. $EUR $USD https://t.co/HUbjgKOhCR
Euro Forecast to Gain further versus US Dollar

Euro Forecast to Gain further versus US Dollar

David Rodriguez, Head of Product
Euro Forecast to Gain further versus US Dollar

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EURUSD - The ratio of long to short positions in the EURUSD stands at -2.26 as 31% of traders are long. Yesterday the ratio was -2.06; 33% of open positions were long. Long positions are 3.5% lower than yesterday and 4.7% below levels seen last week. Short positions are 6.0% higher than yesterday and 7.5% above levels seen last week. Open interest is 2.9% higher than yesterday and 0.4% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the EURUSD may continue higher. The trading crowd has grown further net-short from yesterday and last week. The combination of current sentiment and recent changes gives a further bullish trading bias.

See next currency section: GBPUSD - British Pound Likely to Hit Fresh Highs

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