News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Australian Dollar Likely Set Important Low

Australian Dollar Likely Set Important Low

David Rodriguez, Head of Product
Australian Dollar Likely Set Important Low

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

AUDUSD A material shift in retail FX trader sentiment leads us to believe that the Australian Dollar likely set a significant low versus the US Dollar.

Trade Implications – AUDUSD:Our retail FX trader data shows the majority of traders have remained long AUDUSD with brief exception since it traded below $0.9400 in 0, 2014, and a contrarian view of sentiment kept us consistently in favor of selling into weakness. Yet as of this morning ‘the crowd’ has flipped, and this represents a potentially substantial shift.

It is obviously early and calling for major trend reversals is very risky. Yet we see broader signs of a US Dollar turnaround, and the flip in AUDUSD positions warns of further gains.

See next currency section:NZDUSD - New Zealand Dollar Expected to Gain Further

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

Australian Dollar Likely Set Important Low

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

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

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES