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Forex Analysis: Aussie and Canadian Dollar Breakdowns Should be Sold

Forex Analysis: Aussie and Canadian Dollar Breakdowns Should be Sold

2013-01-24 16:15:00
David Rodriguez, Head of Product
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Trading crowds continue buying the US Dollar versus the Euro, but a shift against the Australian and Canadian Dollars has led our sentiment-based strategies to buy the resurgent USD.

View individual currency sections:

EURUSD - Trading Strategies Go Long EURUSD

GBPUSD - British Pound Rallies May be Sold

USDJPY - Japanese Yen Forecast to Fall Further

USDCAD - Canadian Dollar Breakdown Should be Sold

USDCHF - Swiss Franc Forecast to Fall Further

AUDUSD - Australian Dollar Could Break Further Lows

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_Picture_5.png, Forex Analysis: Aussie and Canadian Dollar Breakdowns Should be Sold

Our proprietary sentiment-based trading strategies continue selling the US Dollar versus the Euro (buying EURUSD), but key reversals in the AUDUSD and USDCAD suggest that we could see a more substantive shift in US Dollar trading.

Download eight years worth of SSI data via this link.

ssi_table_story_body_Picture_6.png, Forex Analysis: Aussie and Canadian Dollar Breakdowns Should be Sold

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

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

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