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US Dollar Turnaround the Real Deal - Here’s Why

By , Quantitative Strategist
29 August 2013 16:00 GMT

The US Dollar likely set a major bottom versus the Euro, British Pound, and Australian Dollar. How might we trade it?

View individual currency sections:

EURUSD - Forex Moves and Sentiment Confirm Major EURUSD Top

GBPUSD - British Pound Forecast to Trade Lower versus US Dollar

USDJPY - Japanese Yen Likely to Hit Fresh Peaks versus Euro, GBP

XAUUSD - Gold Remains Bright Spot versus the Resurgent US Dollar

SPX500 - S&P 500 at Make or Break Levels - Is this the Top?

AUDUSD - Australian Dollar Turnaround is the Real Deal

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_Picture_17.png, US Dollar Turnaround the Real Deal - Here's Why

Our proprietary Speculative Sentiment Index data shows that retail forex traders have sold aggressively into recent US Dollar strength versus the Euro, British Pound, and Australian Dollar. We use the SSI as a contrarian signal to price action; if crowds are selling, we look to buy.

Combined with a potentially significant shift in forex market conditions, this is reason enough to call for further Greenback strength.

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.

ssi_table_story_body_Picture_10.png, US Dollar Turnaround the Real Deal - Here's Why

ssi_table_story_body_Picture_5.png, US Dollar Turnaround the Real Deal - Here's Why

Automate our SSI-based trading strategies via Mirror Trader free of charge

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

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29 August 2013 16:00 GMT