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. See our updated Privacy Policy here.

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
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Bitcoin, $BTCUSD, is working on its fifth consecutive daily slide - matching the longest bear run since Sept 2019 - as it plays out its head-and-shoulders neckline break. The fundamental landscape is proving just as hostile at the moment with regulators and Elon hate https://t.co/Hoxtlvqs7l
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.12% Silver: -0.72% Oil - US Crude: -1.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Z6tFzRWRhm
  • RT @KyleR_IG: Consumer sentiment pulls back from an eleven year high https://t.co/XVw3bNfvdo
  • Protests in Colombia may continue to pressure the Peso, but surging commodity prices and a weaker Greenback could curb USD/COP gains. Get your market update here:https://t.co/vcVH75xuKI https://t.co/k9lPlvZznA
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.03% 🇬🇧GBP: -0.04% 🇨🇭CHF: -0.06% 🇳🇿NZD: -0.09% 🇦🇺AUD: -0.11% 🇨🇦CAD: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/JasY8jNAkb
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.14%, while traders in EUR/USD are at opposite extremes with 72.29%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/68EQmJdwzo
  • 🇦🇺 Wage Price Index YoY (Q1) Actual: 1.5% Expected: 1.4% Previous: 1.4% https://www.dailyfx.com/economic-calendar#2021-05-19
  • A fairly profound tweet thread from US Treasury Secretary Yellen, who calls for a reframing of US fiscal policy. https://t.co/yxYmHF6ScY
  • Heads Up:🇦🇺 Westpac Leading Index MoM (APR) due at 01:30 GMT (15min) Previous: 0.38% https://www.dailyfx.com/economic-calendar#2021-05-19
  • Heads Up:🇦🇺 Wage Price Index YoY (Q1) due at 01:30 GMT (15min) Previous: 1.4% https://www.dailyfx.com/economic-calendar#2021-05-19
Facts Change and We Change with Them – Euro Looks like a Buy

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

David Rodriguez, Head of Product
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