Euro Forecast May Turn on a Test of this Key Level
Why and how do we use the SSI in trading? View our video and download the free indicator here
EURUSD – Retail FX traders remain short the Euro versus the US Dollar, and a contrarian view of crowd sentiment suggests the EUR/USD could trade higher. A clear caveat is the fact that traders have actually been net-buyers into the most recent EUR pullback; this stands as an early warning that the trend may soon turn.
Our Senior Technical Strategist highlights the key $1.0800 mark as the line dividing the Bulls and Bears for the EUR/USD.
See next currency section: GBPUSD - British Pound Outlook Clearly Points to 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.