Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Australian Dollar – The Aussie Dollar has surged versus its US namesake, but a surprising shift in forex crowd sentiment suggests it may be near a potential turning point.
Trade Implications – AUDUSD: Total short interest in the AUDUSD recently hit its highest in three years as the pair surged towards key peaks. Yet now that $0.9400 has given way we have actually seen short positions fall nearly 30 percent from their peak. The unusual divergence warns of crowd exhaustion, and indeed we see particular risk of a AUDUSD turn lower.
— 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