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US Dollar and Yen Positioned for Gains as Sentiment Hits Extremes

US Dollar and Yen Positioned for Gains as Sentiment Hits Extremes

2012-05-31 15:13:00
David Rodriguez, Head of Product
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ssi_table_story_body_x0000_i1033.png, US Dollar and Yen Positioned for Gains as Sentiment Hits Extremes

Forex trading crowds continue selling aggressively into US Dollar (ticker: USDOLLAR) strength against the Euro, British Pound, Swiss Franc, and Canadian Dollar. Our sentiment-based trading strategies favor USD longs against all except the Japanese Yen.

Our forex sentiment-based trading strategies continue buying into US Dollar and Japanese Yen strength across the board, and indeed we believe that strong forex volatility favors our breakout-based and trend-following automated trading systems.

Markets clearly do not move in straight lines, and sharp US Dollar and Japanese Yen gains leave ample room for short-term pullbacks. Yet we believe that the overall trend remains clear, and one-sided sentiment favors continued USD and JPY highs.

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_1.png, US Dollar and Yen Positioned for Gains as Sentiment Hits Extremes

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 drodriguez@dailyfx.com.Contact David via Twitter at http://www.twitter.com/DRodriguezFX

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

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