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Euro Likely to Hold Lows - Breakout Next?

Euro Likely to Hold Lows - Breakout Next?

David Rodriguez, Head of Product

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

EURUSD – Retail FX traders remain marginally net-short the Euro versus the US Dollar, and a contrarian view of crowd sentiment leaves us marginally bullish on the EUR/USD exchange rate. Indeed, the crowd has remained short with little interruption since the pair rallied sharply off of lows through mid-December.

Our Senior Technical Strategist warns that a break of this key resistance level could signal a much larger advance.

See next currency section: GBPUSD - British Pound Forecast to Fall until this Changes

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.