Euro Breakdown the Real Deal as Dollar Surges, Crowds Sell
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Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Our proprietary sentiment-based trading strategies have continued selling the Euro, British Pound, Australian Dollar, and Swiss Franc versus the resurgent US Dollar. Clearly one-sided retail crowd sentiment leaves us in favor of further USD gains.
A sharp jump in forex market volatility likewise suggests that our trend-following and breakout-friendly trading strategies can continue to do well as they go against crowd positioning. The Greenback looks well-positioned to continue higher against all except arguably the Japanese Yen.
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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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