Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
AUDUSD – Retail forex traders remain steadily long the Australian Dollar, acting as contrarian signal that it may continue lower against its US namesake.
Trade Implications – AUDUSD: We would ideally see bigger sentiment extremes getting aggressively bearish AUDUSD, as only 58% of traders in our sample are currently long. That said, they have mostly bought the Australian Dollar since January and it remains in clear downtrend. We would need to see a major shift before changing our bearish long-term trading bias.
— Written by David Rodriguez, Quantitative Strategist for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
Contact David via
Twitter at https://www.twitter.com/DRodriguezFX
Facebook at https://www.Facebook.com/DRodriguezFX