- EURUSD – Euro Likely to Outperform Australian Dollar
- GBPUSD – British Pound Likely set Short-Term Top
- USDJPY – US Dollar to Fall versus Japanese Yen
- USDCHF – Swiss Franc Outlook Uncertain
- USDCAD – Canadian Dollar Forecast Cautiously Bearish
- GBPJPY – British Pound Likely to Pull Back versus JPY
The US Dollar (ticker: USDOLLAR) may soon break lower against the Euro and Japanese Yen, while clear trader indecision suggests that the British Pound/US Dollar pair could have set an important top near the $1.5990 mark.
We have consistently called for US Dollar weakness against key counterparts, but the Greenback refuses to break to fresh lows as the month of March has produced consistently lackluster currency moves. We may need to wait for the new month of April to bring a change of pace and fresh trends.
As it stands, the US Dollar’s failure to break above key resistance suggests it could decline when and if currencies enter new trends through the month of April.
View an FXCM Expo presentation on the Speculative Sentiment Index for better understanding on how we use it in our trading.
How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
To receive the SSI via e-mail and other reports from author David Rodríguez, e-mail subject line “Distribution List” to email@example.com; Contact David via Twitter at http://www.twitter.com/DRodriguezFX