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US Dollar Likely to Fall Further on Trading Crowd Shift

US Dollar Likely to Fall Further on Trading Crowd Shift

2011-05-26 14:15:00
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_6.png, US Dollar Likely to Fall Further on Trading Crowd Shift

Forex retail trading crowds continue to buy into US Dollar declines, selling into euro and Swiss Franc strength. Our Speculative Sentiment Index is a contrarian indicator and suggests that the EURUSD could continue to rally while the USDCHF declines.

Outlook for other currency pairs is slightly less clear, but overall we see that retail trading crowds remain fairly heavily net-long the USD. This is a noteworthy departure from just three weeks ago when many of the same retail traders sold into Greenback strength.

The shift in crowd positioning gives contrarian signal that the US Dollar could resume its previous declines against the fast-rising Euro, Swiss Franc, and Japanese Yen.

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_7.png, US Dollar Likely to Fall Further on Trading Crowd Shift

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.

Follow up-to-the-minute updates on the SSI through DailyFX+ and our Real time news feed

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

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