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Systems Stop And Reverse on US Dollar - Here's Why it Might Work

Systems Stop And Reverse on US Dollar - Here's Why it Might Work

2013-04-18 15:00:00
David Rodriguez, Head of Product
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Our sentiment-based strategies have rapidly switched direction on key US Dollar (ticker: USDOLLAR) and Japanese Yen currency pairs – this may be the start of a major USD and JPY reversal.

View individual currency sections:

EURUSD - Euro Breakdown Makes Next Dollar Move Critical

GBPUSD - British Pound Stops and Reverses - Is it a True Breakdown?

EURJPY - Japanese Yen Bounce Leads Systems to Buy

XAUUSD - Large Swing in Gold Positions Warns of Bounce, but We Prefer Selling

SPX500 - SPX500 Sentiment Warns of Further Losses

AUDUSD - Australian Dollar Chops Around - Watch Critical Support for Next Move

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_SSIchart1.png, Systems Stop And Reverse on US Dollar - Here's Why it Might Work

Choppy price action has made for similarly choppy trading for our sentiment-based Momentum2 and volatility-friendly Breakout2 trading strategies. Last week we wrote that retail traders had been buying into US Dollar and Japanese Yen weakness—leading our systems to do the opposite and go long EURUSD, GBPUSD, EURJPY, AUDUSD, and other pairs.

Yet we’ve seen a substantive shift in retail trader sentiment, and our strategies have stopped and reversed. We hesitate to switch directions so rapidly, but if the facts change we must change. Strong FX options market volatility expectations across Japanese Yen pairs may particularly favor sharp market swings.

Download eight years’ worth of SSI data via this link.

ssi_table_story_body_1a.png, Systems Stop And Reverse on US Dollar - Here's Why it Might Work

Download all of our Sentiment-based trading strategies free via an ongoing promo on FXCMApps.com

View how to automate the high-volatility Breakout2 Trading System via our previous article and webinar recording.

Auto trade the trend reversal-trading Momentum2system via our previous article and webinar recording.

Trade with strong trends via our Momentum1 Trading System and view an archived webinar

Use our counter-trend Range2 Trading system and view an archived webinar guide on automation

ssi_table_story_body_SSIchart.png, Systems Stop And Reverse on US Dollar - Here's Why it Might Work

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

Download all of our Sentiment-based trading strategies free via an ongoing promo on FXCMApps.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.

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