The Euro has been losing ground to the USD over the past couple of weeks, as the ECB delivered a surprise rate cut and Fed taper talk gets louder. So will the slide continue? Accordingly to the majority of CMC’s top clients, the answer is yes. Our Client Sentiment Indicator shows that 67% are currently short EUR/USD, and the combined value of their trades equates to an overwhelming 92% of the total open positions within this instrument. Some real conviction here. (The Client Sentiment Indicator may be accessed by clicking on the arrow next to the instrument below and selecting from the drop down menu).

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