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Australian Dollar Strength Likely as Crowd Sentiment Shifts

Australian Dollar Strength Likely as Crowd Sentiment Shifts

2013-03-14 14:30:00
David Rodriguez, Head of Product
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ssi_aud-usd_body_Picture_19.png, Australian Dollar Strength Likely as Crowd Sentiment Shifts

AUDUSD – Retail traders have aggressively scaled back on AUDUSD-short positions, and a contrarian view of forex sentiment favors further strength.

Trade Implications – AUDUSD: Our sentiment-based Momentum2 system has recently bought the Australian Dollar against the US Dollar on the sharp shift in retail sentiment, and our technical forecast for the AUDUSD leaves us in favor of further short-term strength. Long interest is down a remarkable 48 percent in the past week, and the sharp swing gives us contrarian signal that the Aussie may continue higher.

--- 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.

ssi_aud-usd_body_1a_5.png, Australian Dollar Strength Likely as Crowd Sentiment Shifts

View how to automate the high-volatility Breakout2 Trading System via our previous article and webinar recording.

Auto trade the trend reversal-trading Momentum2system via our previous article and webinar recording.

Trade with strong trends via our Momentum1 Trading System and view an archived webinar

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