Why and how do we use the SSI in trading? View our video and download the free indicator here
EURUSD – Our retail FX trader data shows ‘the crowd’ remains steadily net-short the Euro versus the US Dollar, and a contrarian view of herd sentiment suggests the EUR/USD may yet reach further highs. Indeed, positioning last turned short as the pair crossed above $1.0950 in early March with no interruption.
An important caveat is that we have seen a notable week-over-week shift towards crowd buying; total long positions are up 26 percent while short positions have fallen 18 percent. Until we see a more sustained shift and a crowd flip to net-long, however, we will maintain our long-standing bullish trading bias.
See next currency section: GBPUSD - British Pound Likely to fall to Further Lows
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
