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Euro Outlook Remains Uncertain – What to Watch Next

Euro Outlook Remains Uncertain – What to Watch Next

David Rodriguez, Head of Product

NEW: View Real-Time SSI Updates via the FXCM Trading Station Desktop

EURUSD – Retail FX traders remain net-short the Euro versus the US Dollar and have remained so since the pair broke down towards $1.05 in March. We would normally treat this as a contrarian signal that the pair may continue higher, but the recent Euro breakdown has been met with a fairly aggressive crowd buying. Ideally we would see a larger shift in sentiment before taking a strong trading bias, but the recent shift towards crowd buying does leave us modestly bearish.

See next currency section: GBPUSD - British Pound Forecast to Decline Further

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