– Retail forex traders remain long the US currency, but a substantial shift accurately called for reversal
– We see technical evidence that the Dollar is setting up for much larger move higher
– Next moves in the Buck could prove pivotal, and we’re watching our FX trader sentiment data
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View individual currency sections:
EURUSD – Euro Likely in Major Reversal, but Pace of Losses May Slow
GBPUSD – British Pound May Continue to Gain for this Reason
USDJPY – Dollar at Risk of Breakdown versus Japanese Yen
NZDUSD – New Zealand Dollar Defies Expectations and Flies Higher
GOLD – Gold Price Tumbles Point to Broader US Dollar Reversal
USDCHF – Swiss Franc Likely to Fall Further versus US Dollar
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
A substantial shift in forex trader sentiment accurately called for a US Dollar reversal versus the Euro and other counterparts. What’s next?
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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