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US Dollar Shows Signs of Life as Crowds Sell Bounce

US Dollar Shows Signs of Life as Crowds Sell Bounce

David Rodriguez, Head of Product

EURUSDEuro Forecast Shifts as Retail Crowds Capitulate

GBPUSDCrowd Sentiment Favors British Pound Gains

USDJPYJapanese Yen May have Topped versus US Dollar

USDCHFSwiss Franc Outlook Turns Bearish

USDCADCanadian Dollar Forecast to Decline

GBPJPYBritish Pound Bias Remains Bearish versus Yen

Retail forex speculators remain long the US Dollar (ticker: USDOLLAR) against the Euro and other currencies, but an important shift in sentiment serves as early warning of a potential Dollar turnaround.

ssi_table_story_body_Picture_5.png, US Dollar Shows Signs of Life as Crowds Sell Bounce

We’ve recently called for continued US Dollar losses across the board as retail crowds bought into Greenback weakness. Our FXCM Execution desk data shows that the majority of traders remain long, but many are actually now selling into the Dollar bounce.

ssi_table_story_body_Picture_6.png, US Dollar Shows Signs of Life as Crowds Sell Bounce

Our sentiment-based trading strategies have begun buying the US Dollar on the first signs of turnaround, but it will be critical to watch whether the USD can close above significant resistance versus the Euro and other major pairs.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, send a message with subject line “Distribution List” to drodriguez@dailyfx.com;

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

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Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.

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

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