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Euro Break Higher Offers Buying Opportunities

Euro Break Higher Offers Buying Opportunities

2013-01-31 15:45:00
David Rodriguez, Head of Product
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Forex trading crowds continue to buy the US Dollar (ticker: USDOLLAR) versus the Euro, and our sentiment-based strategies continue to buy into EURUSD highs. We favor Euro strength.

View individual currency sections:

EURUSD - Trading Strategies Continue Buying EURUSD

GBPUSD - British Pound Rallies Offer Short Opportunities

USDJPY - Japanese Yen Rallies Should be Sold

USDCAD - Canadian Dollar Breakdown Stalls

USDCHF - Swiss Franc Forecast to Strengthen Further

AUDUSD - Aussie Breakdown Offers Selling Opportunities

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_Picture_5.png, Euro Break Higher Offers Buying Opportunities

Our proprietary sentiment-based trading strategies continue to call for US Dollar weakness against the Euro and Swiss Franc, but the same strategies have recently bought the Greenback against the Australian Dollar and British Pound.

Admittedly mixed sentiment gives us a similarly unclear trading bias on the Dollar Index itself, but we believe that a jump in forex volatility favors continued breakout trading in the Japanese Yen and key USD pairs.

Download eight years’ worth of SSI data via this link.

ssi_table_story_body_Picture_6.png, Euro Break Higher Offers Buying Opportunities

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

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

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

Contact David via

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

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