EURUSD –The Euro has plunged to fresh 11-year lows versus the US Dollar, and one-sided retail FX trader positions point to continued EURUSD declines.
Trade Implications – EURUSD: Our
trader sample shows that the majority of traders remain long the Euro
versus the US Dollar, and until that changes we will maintain our
contrarian calls for EURUSD losses. It bears mention that total long
interest has fallen since last week (-15%), but net positioning remains
steady as short interest has pulled back further (-22%).
The slowdown in buying suggests exhaustion is
beginning to set in and raises the risks of a short-term bounce. Yet
we’ll need to see much more concrete signs of turnaround before calling
for a sustained reversal.
Read more Click Here / www.trade4x.net
No comments:
Post a Comment