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SSI: The Speculative Sentiment Index
| Symbol | LastWeek | Present | %Long | Change: Open Interest |
Signals | Chart Links |
|---|---|---|---|---|---|---|
| EUR/USD | 1.48 | 1.01 | 50%% | -5.4%% | bearish | View Chart |
| USD/JPY | -1.19 | 1.18 | 54%% | -7.5%% | bearish | View Chart |
| GBP/USD | 2.05 | 1.86 | 65%% | -7.2%% | bearish | View Chart |
| AUD/USD | 4.99 | 4.00 | 80%% | -8.5%% | bearish | View Chart |
| GOLD | 1.40 | 1.23 | 55%% | -2.0%% | bearish | View Chart |
| SPX500 | -6.09 | -3.51 | 22%% | -19.8%% | bearish | View Chart |
The SSI is reported Every Thursday at DailyFX.com and twice every trading day inside DailyFX PLUS.
Australian Dollar Poised for Larger and Faster Declines
AUDUSD – We’ve written repeatedly in favor of Australian Dollar weakness against the resurgent US namesake, and extremely one-sided retail forex sentiment leaves us plainly in favor of further weakness.
Trade Implications – AUDUSD: Nothing moves in a straight line, and we’re very much aware that the risk of a short-term bounce is significant. But we can’t ignore signs that this is simply the beginning of AUDUSD (and S&P 500) weakness—we’re watching for further weakness.
A hold below week-to-date congestion highs at $0.9840 leaves our short-term bullish trading bias intact.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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