– Retail forex traders have bought aggressively into US Dollar weakness
– A contrarian view of crowd sentiment favors further Dollar declines vs. Euro, Sterling
– Technical forecasts line up well with our sentiment-based trading strategies
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
View individual currency sections:
EURUSD – Euro May Have Turned the Corner
GBPUSD – British Pound Could Accelerate Higher
EURJPY – Japanese Yen at a Potentially Significant Turning Point
Gold – Further Gold Gains Seem Unlikely
SPX500 – SP 500 Pullback Not Yeta Cause for Concern
AUDUSD – Respect the Australian Dollar Downtrend
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Trading crowds have bought aggressively into US Dollar weakness versus the Euro and British Pound, and our sentiment-based FX forecasts favor continued USD declines.
See specific US Dollar forecasts in the sections above, and sign up for future e-mail updates via this author’s e-mail distribution list.
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— Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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