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US Dollar: Long-Awaited Reversal Underway

US Dollar: Long-Awaited Reversal Underway

2011-03-10 15:49:00
David Rodriguez, Head of Business Development
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View individual currency SSI charts in our FX Sentiment sections

ssi_table_story_body_Picture_5.png, US Dollar: Long-Awaited Reversal Underway

* Negative ratio indicates net short

Forex trading crowds have recently sold in to a nascent US Dollar recovery, giving contrarian signal that the beleaguered US currency could continue higher through short-term trade. Such a view is consistent with forex futures and options sentiment/positions, which warn that the US Dollar may be at or near an important bearish sentiment extreme. We emphasize that timing sentiment extremes and reversals is extremely challenging. Yet the recent shift in SSI positioning provides tentative short-term confirmation of a potential US Dollar recovery, and we have accordingly shifted our views on the Euro/US Dollar and British Pound/US Dollar pairs through upcoming trade.

View an FXCM Expo presentation on the Speculative Sentiment Index for better understanding on how we use it in our trading.

ssi_table_story_body_Picture_6.png, US Dollar: Long-Awaited Reversal Underway

To get on the mailing list for the SSI and other reports from author David Rodriguez, e-mail subject line “Distribution list” to drodriguez@dailyfx.com

How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.

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