Forex trading crowds have bought into Dollar weakness against the Euro, Gold prices, and even the SP 500. We see scope for USD weakness and further records for stocks.
View individual currency sections:
EURUSD – Euro Poised to Break Higher – Watch $1.32
GBPUSD – British Pound Turns the Corner – Clear Skies Ahead?
USDJPY – Japanese Yen Likely to Fall to Fresh Lows
XAUUSD – Gold Prices Rally – Time to Buy?
SPX500 – Stocks See Déjà Vu All Over Again – Further Records Likely
AUDUSD – Australian Dollar Shows Signs of Life
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
We’ve been calling for US Dollar weakness for a bit over a week now, and so far the Dow Jones FXCM Dollar Index (ticker: USDOLLAR) has proven surprisingly resilient. Yet retail forex trader sentiment seems fairly clear, and our sentiment-based Momentum2/”Tidal Shift” system continues to sell into US Dollar weakness.
Read full currency pair-by-currency pair rundowns in the links above, and follow future updates on retail sentiment and our trading strategies via my e-mail distribution list.
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— Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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