The SSI is a contrarian indicator issued by Daily Forex to identify the most probable trend in Forex trading for a given Forex pair.
For the coming week 25-29 May 2015 the only clear signal is on the NZD/USD, while on the other Forex pairs covered by the SSI the signals are either weak or neutral.
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New Zealand Dollar likely to rise
NZD/USD - The trading crowd has flipped from net-long to net-short from last week, as the long-positions went from 61% to 47%. The combination of current sentiment and the recent change give a clear bullish trading mood on this pair.
Neutral outlook on EUR/USD
EUR/USD - The ratio of long to short positions in the EUR/USD is at -1.35, meaning that 43% of traders are long, compared to 31% of last week. At the same time the short positions have decreased 26.4% since last week.
We use our SSI as a contrarian indicator; the majority of traders being short is a signal that the pair EUR/USD may continue higher, but at the same time the trading crowd has grown less net-short from last week and this gives us a mixed trading mood.
Neutral outlook also on GBP/USD
GBP/USD - The ratio of long to short positions in the GBP/USD stands at 1.03 as 51% of traders are long, as opposed to 39% of last week. The majority of traders is still long, giving us a bearish signal on the GBP/USD, but on the other side retail traders have grown less net-long since last week, and this combination of current sentiment and recent changes give a mixed trading bias.