Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Australian dollar – Retail forex trading crowds continue to buy aggressively into Australian Dollar weakness, and our sentiment-based Momentum2 strategy has done well selling into AUDUSD declines and buying into EURAUD strength.
Trade Implications – AUDUSD: The Australian Dollar is currently at its worst consecutive weekly decline since 1986, and it’s obvious that overall momentum is stretched. Yet we see little reason to call for a meaningful reversal.
As long as crowds continue buying Australian Dollar weakness, our sentiment-based trading strategies will continue to sell.
— 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