– Retail forex traders have never been more short Dollar versus Euro, Swiss Franc
– Potentially significant turn in Aussie Dollar nonetheless warns of market shift
– Dollar’s next moves critical as it may have bottomed across key counterparts
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View individual currency sections:
EURUSD – We Like Trading the Euro Higher
USDJPY – Looking to Trade a Potential USDJPY Breakdown
GBPUSD – Our Next Trade in British Pound Depends on Next Week
XAUUSD – Where Might we Buy Gold Prices?
USDCHF – US Dollar Looks like a Sell versus Swiss Franc
AUDUSD – Australian Dollar may have Set Tradable Top
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
The US Dollar looks at major risk of further declines versus the Euro and Japanese Yen, but why might it have set an important bottom versus the Australian Dollar?
Our Retail FX sentiment-based strategies have done well selling into US Dollar weakness versus the Euro, Swiss Franc, British Pound, and other major currencies as the trading crowd does the opposite.
Yet our Momentum2 system has most recently bought the USD versus the Australian Dollar, and indeed we see risks of a potentially lasting Dollar turnaround at current levels. See the links above for further detail on the AUDUSD in particular and other pairs.
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— Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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