Euro Forecast Unclear Heres What we Need to See
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EURUSD – The Euro continues to trade in a choppy price range versus the US Dollar, and our retail FX positioning data shows that ‘the crowd’ remains net-short. A contrarian view of mass sentiment acts as contrarian signal that the EUR/USD may continue higher, but we would ideally see a resumption in the recent EUR rally before calling for fresh long positions.
See next currency section: GBPUSD - British Pound Remains a Sell until we see this Change
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.