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 Forecast to Fall even Further until this Changes

Euro Forecast to Fall even Further until this Changes

David Rodriguez, Head of Product
Euro Forecast to Fall even Further until this Changes

Why and how do we use the SSI in trading? View our video and download the free indicator here

EURUSD – One-sided retail forex trader sentiment warns that the Euro may continue lower versus the US Dollar. Last week we wrote that a substantive shift in trader positions suggested the EUR/USD breakdown was “the real deal”. And indeed the FX ‘crowd’ continued to buy into EUR declines through this past week—providing contrarian signal that further Euro losses remain likely.

The recent spike-low at $1.0900 remains the first downside target, while a break below mid-year price floors near $1.0800 would likely force a test of multi-year highs near $1.0400.

See next currency section: GBPUSD - British Pound Remains at Risk of Further Declines

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