Forex Analysis: Retail Traders Buy USD, JPY - We Favor Declines
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Indeed, we believe that forex market conditions continue to favor selling US Dollar and Japanese Yen strength.
There was a modest pullback in USD-long interest since last week, but as long as the majority of retail traders remain long US Dollars versus the Euro and other counterparts we remain in favor of USD weakness.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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