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

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD oscillates as Draghi speaks, upgrades GDP forecasts

  2. Forex News

    EUR/USD unchanged on ECB

  3. Forex News

    EUR/USD negative bias towards 1.06 by mid-2016 – Rabobank

  4. Forex News

    BNPP: Will ECB be able to source EUR 60bn of assets per month? – eFXnews

  5. Forex News

    EUR/USD stuck in the mid-1.10s

Trading Center