U.S. Markets close in 5 hrs 49 mins

Euro Decline May Offer Opportunity to Get Long

David Rodriguez
ssi_eur-usd_body_Picture_1.png, Euro Decline May Offer Opportunity to Get Long

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


EURUSDRetail FX traders remain heavily short Euro, and a contrarian view of crowd sentiment leaves us in favor of further gains.


Trade Implications – EURUSD: There are over 2 retail traders short Euro for every one long, and as long as crowds continue selling we’ll continue to watch for further EURUSD gains. Indeed, our Senior Technical Strategist sees evidence that the recent Euro intraday tumble completed a short-term correction, and further upside seems likely.


Our sentiment-based Momentum2strategy has had mixed results trading the Euro, but the system is once again likely to get long EURUSD as crowds sell into strength.


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



ssi_eur-usd_body_Picture_14.png, Euro Decline May Offer Opportunity to Get Long

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 https://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.