Talking Points
– US Dollar coming back into favor among retail traders.
– Australian Dollar sentiment shifts signal further losses.
– Recent trends likely to persist in absence of major event risk the remainder of the week.
View individual currency sections:
EURUSD – Retail Crowd Retains Enthusiasm for Shorting EURUSD
GBPUSD – Neutral Outlook as Pound Rally Stalls, Retail Moderates Positioning
EURJPY – Further Near-term Gains in Question for EURJPY
XAUUSD – Retail Attitudes Changing Towards Gold, but SSI Systems not Bullish Yet
SPX500 – Lingering Doubt over the Strength of the SP 500’s Rally a Bullish Backdrop
AUDUSD – Technical Breakdown Invites New AUDUSD Sellers
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Retail forex traders have been adding long US Dollar positions over the past several days, with the bulk of buying occurring in the wake of the weakest US labor market report since January 2011. The clearest opportunities in the market right now may be in the EURUSD, AUDUSD, and SP 500.
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— Written by Christopher Vecchio, Currency Analyst
To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com
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