EURUSD – Forex trading crowds have sold aggressively into the Euro rally against the US Dollar (ticker: USDOLLAR), and our contrarian trading systems have done well going in the opposite direction.
Trade Implications – EURUSD: Our purely sentiment-based Momentum2 strategy was the first to buy into Euro strength at $1.2877 and then again at $1.2938, while our volatility-friendly Breakout2 system flipped direction and bought Euro from $1.2942.
Our Senior Technical Strategist advocates remaining bullish as long as the EURUSD remains above $1.3025.
— Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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