Thursday, July 3, 2008

Extreme euro SSI reading flags possible 1.60 break

Retail EURUSD positioning is once again pressing extremes; but unlike the readings of two weeks ago, these extremes actually see speculators once again fighting an extension to new record highs. The euro’s Speculative Sentiment Index ratio fell to - 2.48 this week with nearly 71% of the retail crowd betting record highs would hold. Looking at the dramatic change in sentiment over the past few weeks, it is clear that traders have grown very confident in range conditions between 1.60 and 1.53.

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source: The Most Extreme Euro SSI Reading This Year Flags A Possible 1.60 Break

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