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Euro Forecast Unclear on Sharp Shifts in Forex Sentiment.

EURUSD - Forex trading crowd biases on the EURUSD have shifted quickly, and recent volatility in crowd sentiment has left our SSI-based forex trading systems effectively flat the currency pair. The headline SSI ratio still registers at -1.54 as nearly 61% of traders are short-giving a contrarian signal to buy the currency pair. Yet short positions are actually 11.2 percent lower on the week, and the crowd's short bias is waning. Yesterday, the ratio was at -1.27 as 56% of open positions were short. Unpredictable shifts in forex positioning make our SSI-based bias summarily unclear. Of two purely SSI-based momentum trading systems, one is currently short while another has gone long.

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Publication:Mena Report
Date:Jun 4, 2009
Words:126
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