Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
EURJPY – Retail FX traders are extremely long the Euro versus the Japanese Yen and US Dollar as both the EURUSD and EURJPY trade near important price support levels.
Trade Implications – EURJPY: A contrarian view of crowd sentiment leaves us in favor of continued Euro losses versus the Yen. Yet as with our EURUSD forecast, we think that the risk of a short-term bounce warns against selling the EURJPY at these levels. Instead our Strategist is looking for a test of resistance for the next Euro trading opportunity.
See next currency section:EURUSD – Euro Trend has Turned, Looking to Sell Bounces
— 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
Euro Likely to Fall further versus Yen
No comments:
Post a Comment