Real Risk Euro May Bounce versus US Dollar
- EURUSD – Real Risk of Euro/US Dollar Bounce
- GBPUSD – British Pound Forecast Turns Bullish
- USDJPY – Yen Poised to Continue Rally
- USDCHF – Swiss Franc Expected to Strengthen
- USDCAD – Canadian Dollar Likely to Fall Further
- GBPJPY – British Pound Outlook Bullish vs Yen
Forex trading crowd sentiment suggests that the US Dollar (ticker: USDOLLAR) could soon fall against the Euro, British Pound, Swiss Franc, and Japanese Yen as positioning grows increasingly one-sided.
We have called for US Dollar gains for some time now as our Speculative Sentiment Index showed trading crowds sold aggressively into Greenback gains. Yet a more recent shift shows the opposite, and it may indeed be time for a broader US Dollar correction.
Recent Forex Futures and Options sentiment data warns that the US Dollar may be at an important bullish sentiment extreme. Combined with SSI readings, such data suggests that the EURUSD could soon turn higher.
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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.