News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • After making a fresh all-time high, Bitcoin has retreated slightly. Now trading back below $66,000 #Bitcoin $BTCUSD https://t.co/h7MRbR13Ju
  • NZD/USD takes out the September high (0.7170) as it extends the advance following the kneejerk reaction to the US consumer Price Index (CPI). Get your market update from @DavidJSong here:https://t.co/QtOtKrJ7X2 https://t.co/0ZP406evUS
  • FDA approves Moderna and Johnson & Johnson Covid booster shots - BBG $MRNA $JNJ
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.68% 🇦🇺AUD: 0.57% 🇨🇭CHF: 0.45% 🇬🇧GBP: 0.22% 🇪🇺EUR: 0.16% 🇯🇵JPY: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/s6QjvuMoVM
  • Fed's Mester: - My inflation forecast for this year has been revised - My expectations are that bottlenecks will last longer than originally expected
  • Fed's Mester: - Interest rate hikes are not coming anytime soon - As asset purchases slow down, we will have time to assess inflation and employment
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.66% Gold: 0.67% Oil - US Crude: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/vFDDklTKD3
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.48%, while traders in Wall Street are at opposite extremes with 77.57%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ojedFqGrS2
  • The FTSE 100 index of leading London-listed stocks is in a good position to climb further, helped by Wall Street strength. Get your market update from @MartinSEssex here:https://t.co/DMsdDCgvLr https://t.co/CAdKQ1ENwv
  • $TSLA is down approximately -0.7% in after hours of trade despite beating expectations on EPS ($1.86 vs $1.67 expected) and revenues ($13.76bln vs $13.91bln expected)
Forex Analysis: Euro May Have Set Important Top

Forex Analysis: Euro May Have Set Important Top

David Rodriguez, Head of Product

An important turn in US Dollar (ticker: USDOLLAR) trading sentiment warns that the EURUSD set an important top, while the USDJPY and AUDUSD see key risks of correction.

View individual currency sections:

EURUSD - Trading Systems Sell Euro on Major Sentiment Shift

GBPUSD - British Pound Sentiment Warns of Continued Weakness

USDJPY - Japanese Yen At Clear Risk of Correction

USDCHF - Swiss Franc Outlook Remains Bullish

USDCAD - Canadian Dollar Forecast to Strengthen

AUDUSD - Australian Dollar Forecast Turns Positive

ssi_table_story_1_body_Picture_5.png, Forex Analysis: Euro May Have Set Important Top

One of our proprietary sentiment-based trading strategies has recently gone short EURUSD on an important week-over-week change in trading crowd positioning. And though it’s always risky to trade reversals, early signs favor EURUSD weakness.

Yet we’ve seen the opposite US Dollar trading signal for the AUDUSD; our systems have most recently turned in favor of strength. The USD may likewise see weakness against the downtrodden Japanese Yen as the risk of correction is significant.

ssi_table_story_1_body_Picture_6.png, Forex Analysis: Euro May Have Set Important Top

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

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

New to FX markets? Learn more in our video trading guide.

Contact David via

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

Facebook at http://www.Facebook.com/DRodriguezFX

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

DISCLOSURES