EUR/USD Ratio: 1.99 Signal: Bearish
EURUSD – Forex traders continue to buy the euro according to proprietary currency trading data, and we see the EURUSD continue to tumble through recent trade. The ratio of long to short positions in the EURUSD stands at 2.03 as nearly 67% of traders are long. In fact, EURUSD long positions are now 45.3 percent higher than last week—compared with a 35.3 percent weekly drop in euro short positioning. The Speculative Sentiment Index is a contrarian indicator and it continues to signal further EURUSD losses. Our technical analyst believes that the EURUSD will continue to decline; visit his Euro Technical Outlook.