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Euro Remains a Buy until this Changes

Euro Remains a Buy until this Changes

2016-05-10 16:55:00
David Rodriguez, Head of Product
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Euro Remains a Buy until this Changes

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

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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.

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