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 drops further on Yellen

  2. Forex News

    USDOLLAR Rebound Vulnerable to 1Q GDP Contraction

  3. Forex News

    Coeure instigated this sell-off - Rabobank

  4. Forex News

    EUR/USD holds above 1.1000 ahead of Yellen speech

  5. Forex News

    Yellen: A double-edged sword - TDS

Trading Center