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EURUSD – The Euro continues to stick to a tight trading range, and our retail crowd sentiment data suggests the EURUSD could turn lower from these levels.
Trade Implications – EURUSD: If the trading crowd is selling, we typically like to buy and vice versa. Yet our data shows that retail traders tend to do well in slow-moving markets, and EURUSD volatility currently trades near record lows.
Thus a continued hold below $1.3675 keeps our focus lower for the Euro currency as crowds sell into resistance. Until volatility returns, we’ll continue to buy near support and sell close to price ceilings across major currency pairs.
See next currency section: GBPUSD - British Pound Rally looks at Risk
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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