– Retail FX trading crowd remains extremely long US Dollar across the board
– We think the Greenback is coiling up for its next major move higher
– Our focus remains on Dollar vs. Europe as positioning especially stretched
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View individual currency sections:
EURUSD – Euro at Important Danger of Declines
GBPUSD – British Pound May Have Set Important Highs
USDJPY – Japanese Yen Continues Coiling up for Next Big Move
GOLD – Gold Prices Poised for Test of Key Price Ceiling
SPX500 – SP 500 Rallies Look Safe For Now
USDCHF – Swiss Franc Reversal in Place
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Forex trading crowds remain extremely long the US Dollar versus the Euro and other majors. These factors would confirm a major turn higher for the US currency.
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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