Euro Break Higher Offers Buying Opportunities

DailyFX

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

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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.

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

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