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EURUSD – Retail forex traders remain short the Euro versus the US Dollar, and a contrarian view of crowd sentiment calls for further near-term gains.
Indeed, the ‘crowd’ has remained net-short EUR/USD since it rallied sharply following the European Central Bank interest rate decision through early December. Until this changes we see little reason to call for a meaningful turn lower. This remains especially true on the low volatility period into the New Year.
See next currency section: GBPUSD - British Pound Remains Likely to Fall Further
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