News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • $AUDJPY poised to move higher after finding support at the 200-day moving average. $CADJPY eyeing a push back towards the yearly high $EURJPY perched atop key support after breaking below Rising Wedge support. Are further losses in the offing? $JPY https://www.dailyfx.com/forex/market_alert/2020/09/28/Japanese-Yen-Outlook-AUDJPY-CADJPY-EURJPY-Levels-To-Watch-.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/v03Ge14yvW
  • Gold price vs. US Dollar Index (DXY) -52 weeks https://t.co/VuZTTnNxmm
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/3:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/26Vn8xNZHF
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.02% Silver: -0.10% Oil - US Crude: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/k82jSelAG3
  • The US Dollar continues to show tones of reversal as Q3 winds down. Can buyers drive the currency through the Q4 open? Get your #currencies update from @JStanleyFX here: https://t.co/mnVvIOhtay https://t.co/H5xQXSalBf
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.43% 🇳🇿NZD: 0.20% 🇬🇧GBP: 0.18% 🇨🇦CAD: 0.03% 🇪🇺EUR: 0.02% 🇨🇭CHF: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/TtUEpT5jDK
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.63%, while traders in EUR/GBP are at opposite extremes with 64.46%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/uxUVKs9BeK
  • 10 out of 11 S&P 500 sectors ended higher on Friday, with half of the companies in the green. Information technology (+1.63%), consumer discretionary (+1.44%), utilities (+1.12%) were among the best performing ones, whereas energy (-0.26%) lagged. https://www.dailyfx.com/forex/market_alert/2020/09/28/Nasdaq-100-Futures-Extend-Gains-Hang-Seng-and-Nifty-50-May-Rebound.html https://t.co/eIecw9NQQD
  • The Hang Seng Index (HSI) has likely formed a bullish “AB=CD” pattern, with the “D” point found at around 23,080. A rebound from the “D” point may lead to more gains with an eye at 23,760 and then 24,200. https://t.co/ObmqqYa5P4
  • Wall Street Futures Update: Dow Jones (+0.39%) S&P 500 (+0.33%) Nasdaq 100 (+0.30%) [delayed] -BBG
Facts Change and We Change with Them – Euro Looks like a Buy

Facts Change and We Change with Them – Euro Looks like a Buy

2016-07-28 15:05:00
David Rodriguez, Head of Product
Share:
Facts Change and We Change with Them – Euro Looks like a Buy

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

EURUSD – Retail FX traders are once again net-short the Euro versus the US Dollar, and a contrarian view of ‘crowd’ sentiment points to further EUR/USD gains. This stands in clear contrast to just two days ago—traders had previously flipped in the opposite direction.

It has admittedly been difficult to form a lasting bias on the Euro as it sticks to a choppy range versus the US Dollar. Key resistance near $1.1185 could mark a key test for the EUR/USD, and a break higher would likely force a rally towards range highs near $1.14 and eventually $1.16. Retail trader sentiment currently favors further strength, and yet it is clear the ‘crowd’ has been quick to switch directions in just the past week of trading.

We see risks of further Euro gains in the near term, but it would take a substantive break above key resistance to call for a larger EUR/USD uptrend.

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.

DISCLOSURES