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 Breakdown is the Real Deal

Euro Breakdown is the Real Deal

David Rodriguez, Head of Product
Euro Breakdown is the Real Deal

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

See a video on why we use the Speculative Sentiment Index as a contrarian indicator in our trading

EURUSD – A substantial shift in retail forex positioning warns that the Euro may have made a lasting turn lower versus the US Dollar. Our data shows that traders had remained net-short for seven months as the EUR/USD rallied off of multi-year lows—acting as a contrarian signal that the pair could continue higher.

Yet yesterday we saw traders turn net-long for the first time since March, and the combination of a shift in sentiment and the major technical breakdown suggests the Euro may continue to trade lower. A hold below key support at $1.1070 keeps us bearish.

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

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