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Crowd Sentiment Calls for Continued Euro Strength

Crowd Sentiment Calls for Continued Euro Strength

David Rodriguez, Head of Product

Retail traders remain heavily net-long the US Dollar (ticker: USDOLLAR) against the Euro and other major counterparts. Our sentiment-based trading strategies have subsequently sold into USD weakness and call for further declines.

View individual currency sections:

EURUSDEuro Forecast Calls for Continued Strength

GBPUSDBritish Pound Uptrend at Risk against the Dollar

USDJPYJapanese Yen Likely Topped on Sentiment Extreme

USDCHFSwiss Franc Outlook Turns Bullish

USDCADCanadian Dollar Forecast to Strengthen versus USD

GBPJPYBritish Pound Bias Remains Bearish versus Yen

ssi_table_story_1_body_Picture_5.png, Crowd Sentiment Calls for Continued Euro Strength

Our overall trading bias remains unchanged since last week—as long as retail trading crowds remain long the US Dollar, we will continue to call for further declines.

ssi_table_story_1_body_Picture_6.png, Crowd Sentiment Calls for Continued Euro Strength

From a fundamental standpoint, the Greenback will continue to track developments in Europe, and a recent lull in market volatility suggests that the US Dollar bull run could be near an end. Viewed from a technical perspective, the dollar’s failed break higher leaves it vulnerable to further declines.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, send a message with subject line “Distribution List” to drodriguez@dailyfx.com;

New to FX markets? Learn more in our video trading guide.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.

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

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