EURUSD – Retail forex traders are selling into Euro weakness against the US Dollar, and this acts as contrarian signal that the pair may turn higher in the near-term.
Trade Implications – EURUSD: The EURUSD broke its pre-NFP range to the upside, leading to a short-term bullish technical bias. With price holding above $1.3560 and the retail crowd becoming more short on balance, it is possible to see further highs over the coming days.
— Written by Christopher Vecchio, Currency Analyst
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