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Euro Forecast has Changed as Forex Traders Switch Direction

Euro Forecast has Changed as Forex Traders Switch Direction

David Rodriguez, Head of Product


EURUSD - Violent Euro Rally Warns that Downtrend is Over

GBPUSD - British Pound Remains in Clear Downtrend, Losses Likely

USDCAD - US Dollar Remains in Control versus Canadian Dollar

AUDUSD - Australian Dollar Positions at Multi-Year Extremes, Rallies Likely

NZDUSD - New Zealand Dollar in Position to Strengthen

XAUUSD - Gold Prices Likely to Fall Further

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Weekly Summary of Forex Trader Sentiment and Changes in Positioning

A violent Euro rally has produced a similarly sharp shift in positions, and our data warns that the EUR/USD downtrend may be over. The US Dollar is increasingly at risk across the board.

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

--- Written by David Rodriguez, Quantitative Strategist for

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