The SSI is a contrarian indicator issued by Daily Forex to identify the most probable trend in Forex trading for a given Forex pair.

Forex non-institutional traders remain bullish on the US Dollar against the Euro, Sterling, Yen, AUD, and NZD. For this reason, Daily Fx mantains a bearish attitude with the USD.

 

Overview

 

The most prominent situations are the pairs EUR/USD and USD/JPY, while the other Forex pairs are in a more balanced situation between net-long and net-short positions

 
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Speedlines, Spikeslines and Easylines: trading system for binary option trading

 

To use at best the information from the SSI indicator for your binary trading, take advantage of the trading systems for binary options created by professional binary traders, specifically designed to exploit charts breakouts in line wity the underlying trend of the asset

 

 

Euro Forecast to Gain further versus US Dollar

 
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EUR/USD - With a ratio of long to short positions at -2.26, meaning that 31% of traders are long, and with this percentage decreasing fro the last days, using the Daily Fx SSI as a contrarian indicator the fact that the majority of traders are short gives signal that the EUR/USD may continue higher.

 

 

British Pound likely to grow to new highs

 
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GBP/USD - 39% of traders are long, this percentage being 41% yesterday. Long positions are 1.5% lower than yesterday and 8.8% below levels seen last week. Short positions are 6.7% higher than yesterday and 41.9% above levels seen last week. Open interest is 3.3% higher than yesterday and 8.5% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the GBP/USD may continue higher. The trading crowd has grown further net-short from yesterday but unchanged since last week. The combination of current sentiment and recent changes gives a further bullish trading bias.

 

 

US Dollar at Risk of Further Declines versus Yen

 
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USD/JPY - On this pair a good 71% of traders are long, further growing from yesterday when 68% of open positions were long and from last week. Short positions are 4.3% lower than yesterday and 3.3% below levels seen last week. According to the SSI the Forex pair USD/JPY may continue lower.
 

 

Australian Dollar Forecast Remains Bullish

 
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AUD/USD - Here the ratio of long to short positions is -1.08, which means that 48% of traders are long, stable from the days before. Short positions are also unchanged (only 0.1% lower than yesterday and 3.2% below levels seen last week). The sentiment here is only modestly bullish and we can consider this a borderline situation.

 

 

New Zealand Dollar likely to rise

 
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NZD/USD - Also this is to be considered a borderline situation (47% of traders are long) but this percentage is rapidly decreasing as short positions are 73.2% higher than yesterday and 58.8% above levels seen last week. The trading crowd has gone from net-long to net-short from last week and now the majority of traders are short and, more importantly, the short positions are growing fast against long positions; putting together all these conditions, the signal is for a NZD/USD which may continue higher.

 

 

British Pound to rally against the Yen

 
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GBP/JPY - The ratio of long to short positions in the Forex pair GBP/JPY stands at -1.19; 46% of traders are long compared to 41% of the day before. Using as usual the SSI as a contrarian indicator to identify the probable trend of the next days, the fact that the majority of traders are short gives signal that the GBP/JPY may continue higher but this signal is kind of mitigated by the fact that the The trading crowd has grown less net-short from yesterday and last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
 

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