Euro Remains a Sell Until this Changes

By DailyFx | Updated August 28, 2014 AAA

DailyFX.com - Euro Remains a Sell Until this Changes

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

EURUSD – The Euro continues to trade to fresh lows versus the US Dollar, and heavily one-sided crowd positions suggest it could depreciate further before a meaningful recovery.

Trade Implications – EURUSD: Our proprietary data shows that there are nearly two open positions short the Euro versus the US Dollar for every one that is long. We most often go against the herd; the fact that the strong majority of traders are long leaves us bearish the EURUSD.

There’s risk that the EURUSD may set an important low next week, but we will continue to call for Euro declines until we see a material shift in crowd sentiment.

See next currency section: GBPUSD - British Pound Targets Fresh Lows versus the US Dollar

You May Also Like

Related Forex Analysis
  1. Forex News

    EUR/USD erases daily losses

  2. Forex News

    EUR is weak, flirting with its multi-year lows – Scotiabank

  3. Forex News

    Dollar firm as correction ends – BBH

  4. Forex News

    EUR/USD looks vulnerable, may shift lower – TDS

  5. Forex News

    Morgan Stanley: Where to target EUR/USD in 2015? – eFXnews

Trading Center