EURUSD – Retail traders remain aggressively short the Euro against the US Dollar (ticker: USDOLLAR), and a contrarian view of crowd sentiment leaves us plainly in favor of further EURUSD gains.
Crowds first turned short the Euro as it crossed above the $1.25 mark through mid-September, and overall short interest is now at its highest levels since January.
There is arguably risk of a EURUSD rally exhaustion near the $1.32 mark, but clearly one-sided crowd sentiment gives us little reason to go against our long-standing bullish Euro bias.
