This chart shows the positions Myfxbook members have on EURUSD. As you can see, the majority is nearly always wrong: They hold long positions when market is falling, and switch to short when it rises.
It makes sense though: the industrial forex players who make the most money arent on myfxbook - the money flows from small myfxbookers to the big players, which explains the graph above...
Of course profit-taking and long-term trading must affect this, but it still seems to give pretty good advice.

Has anyone tried simply betting against the community preference, no matter what the price does?