US Dollar Likely to Fall Further Against Euro, Japanese Yen
- EURUSD – Euro Forecast to Hit Further Highs
- GBPUSD – British Pound Outlook Calls for Strength
- USDJPY – Japanese Yen Rallies Likely to Continue
- USDCHF – Swiss Franc Forecast to Strengthen Further
- USDCAD – Canadian Dollar Outlook Calls for Gains
- GBPJPY – British Pound Outlook Bearish against JPY
View individual currency SSI charts in our FX Sentiment sections
Forex trading crowds continue to buy into US Dollar (Ticker: USDOLLAR) weakness, and our contrarian Speculative Sentiment Index calls for euro, British Pound, Swiss Franc, Japanese Yen, and Canadian Dollar gains against the downtrodden USD.
A sizeable 89% of retail traders in our sample are currently long the US Dollar against the Japanese Yen, while a similar 74% remain long the USDCHF. Given such one-sided sentiment, it seems ill-advised to bet on a major US Dollar reversal.
We will need to see significant shifts in retail crowd sentiment before calling for a US Dollar recovery against high-flying counterparts.
View an FXCM Expo presentation on the Speculative Sentiment Index for better understanding on how we use it in our trading.
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