– Retail forex traders take profit on US Dollar-long positions on major reversal
– Substantial pullbacks in price and sentiment suggests USD reversal in place
– We’re looking higher for the US currency versus the Euro, GBP, NZD, CHF, and Gold
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View individual currency sections:
EURUSD – Euro Finally Makes the Move We’ve Been Watching
GBPUSD – Major Shift in British Pound Sentiment Confirms the Top
USDJPY – Dollar Not out of the Woods versus the Japanese Yen
NZDUSD – New Zealand Dollar Sets Tradable Top versus USD
GOLD – Gold Prices Likely Set Significant Peak
USDCHF – Swiss Franc Reversal Shows Promise
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
The Dollar finally set the price reversal we’ve been waiting for, and retail FX traders were heavily long into the bounce. What now?
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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