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DailyFX Home / Forex Technical Analysis / Speculative Sentiment Index

SSI: The Speculative Sentiment Index

Symbol LastWeek Present %Long Change:
Open Interest
Signals Chart Links

The SSI is reported Every Thursday at DailyFX.com and twice every trading day inside DailyFX PLUS.


Australian Dollar Forecast Remains Bullish

Australian Dollar Forecast Remains Bullish

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AUDUSD - The ratio of long to short positions in the AUDUSD stands at -1.08 as 48% of traders are long. Yesterday the ratio was -1.14; 47% of open positions were long. Long positions are 5.3% higher than yesterday and 4.5% below levels seen last week. Short positions are 0.1% lower than yesterday and 3.2% below levels seen last week. Open interest is 2.4% higher than yesterday and 6.3% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the AUDUSD may continue higher. The trading crowd has grown less net-short from yesterday but further short since last week. The fact that crowds are net-short gives us a modestly bullish AUDUSD trading bias.

See next currency section:NZDUSD - New Zealand Dollar in Position to Gain

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

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