Forex Traders End the Year Short the Euro, We Like Buying
Why and how do we use the SSI in trading? View our video and download the free indicator here
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
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.