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Euro Looks Increasingly Likely to Break Higher

Euro Looks Increasingly Likely to Break Higher

David Rodriguez, Head of Product
Euro Looks Increasingly Likely to Break Higher

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

EURUSD – Retail forex traders have sold aggressively into the recent Euro rally, and a contrarian view of crowd sentiment favors a larger break higher. Our Senior Technical Strategist highlights the fact that the EUR/USD has remained within its narrowest range in well over a year—it seems primed for a larger breakout. A look at crowd sentiment suggests it may finally break higher.

See next currency section: GBPUSD - British Pound May have Made a Lasting Low

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

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