EURUSD - A substantial swing in Euro/US Dollar trader positioning warns that the Euro likely set an important top, and a continued shift in sentiment warns of further EURUSD losses.
Trade Implications - EURUSD: Last week we wrote of the risk of a Euro turnaround on the major shift in sentiment and noted that our purely sentiment-based Momentum2 trading strategy had sold from
The break below trendline support and the sharp shift in sentiment adds further conviction to our calls for declines. Our Senior Technical Strategist sees scope for a Euro depreciation into
See next currency section: GBPUSD - British Pound at Pivotal Price Levels, Next Move is Key
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