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  • Could this be the turning point for the #USD? My majors-based #Dollar index is testing key support from April with positive RSI divergence. If sentiment continues improving, that may offer the fundamental scope to continue lower towards March lows https://t.co/vIIvyF8zpU
  • The scale of the monthly chart can be particularly useful in spotting systemic developments. Gold for example reflects enormous lift of a haven during supposed 'risk on'. The candle chart is gold equally weighted in USD, EUR, GBP and JPY. Orange is $GC_F https://t.co/4yEjT7FvGA
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.49% 🇨🇭CHF: 0.30% 🇪🇺EUR: 0.25% 🇳🇿NZD: -0.06% 🇨🇦CAD: -0.06% 🇯🇵JPY: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OR9TIAZM1e
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  • With $EURUSD clearing 1.1000 this past week and the big swing the past few weeks, it seems remarkable progress for the benchmark currency pair. But consider the monthly picture. It is still awaiting the sentiment nod... https://t.co/4jBDlHwEqg
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.03%, while traders in US 500 are at opposite extremes with 75.77%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/BUbAYHNPIt
  • Amid escalating China tension, Australian Dollar risk reversals indicate that the bullish bias recently enjoyed by AUD/USD could soon unwind and pressure spot prices back lower. Get your AUD/USD technical analysis from @RichDvorakFX here: https://t.co/ZAHEwxNrEW https://t.co/cIFgSuoWF2
FX Traders Sell into Euro Rallies - Watch for a Break Higher

FX Traders Sell into Euro Rallies - Watch for a Break Higher

2016-01-08 16:20:00
David Rodriguez, Head of Product
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FX Traders Sell into Euro Rallies - Watch for a Break Higher

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

EURUSD – Retail FX traders have recently sold into Euro gains versus the US Dollar, and a contrarian view of crowd sentiment leaves us watching for further gains. And indeed, we believe that the EUR/USD may continue higher through near-term trading.

It will important to see it clear key resistance near $1.0940 to call for a larger break higher, but as it stands sentiment favors near-term strength.

See next currency section: GBPUSD - British Pound Forecast to Continue Lower

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