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US Dollar Forecast to Rally Further Against Euro, Canadian Dollar

US Dollar Forecast to Rally Further Against Euro, Canadian Dollar

2010-05-06 14:42:00
David Rodriguez, Head of Product
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 SSI506a

Aggressive US Dollar rallies have been met with similarly aggressive forex trading crowd selling, giving us contrarian signal to continue buying US Dollars against major counterparts. Our SSI-based trading strategies have remained heavily long the USD against the Euro, British Pound, Canadian Dollar, and Australian Dollar through recent trading. Needless to say, said strategies have had a very strong run of performance on the Greenback’s aggressive uptrend. Continued sentiment extremes leaves our short-term USD-bullish bias intact absent a material shift in price and trading crowd positioning.

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