Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
EURUSD – Retail FX traders are near their most short Euro against the US Dollar on record, leaving our contrarian sentiment-based trading strategies long the EURUSD.
Trade Implications – EURUSD: We’ve remained in favor of US Dollar weakness more broadly as crowds continue to buy (sell EURUSD). Our sentiment-based Momentum2 strategy is currently long from $1.3627, and we like the position as the Euro takes out major resistance.
Our Senior Technical Strategist writes that it could take a Euro break below $1.3436 to turn outlook bearish on the resurgent EURUSD. In the meantime we’ll watch for further strength.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
Contact David via
Twitter at http://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX
- Australia International News
- Finance Trading