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Forex Sentiment Points to Major Aussie Dollar and Yen Reversals

Forex Sentiment Points to Major Aussie Dollar and Yen Reversals

2013-06-13 16:20:00
David Rodriguez, Head of Product
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Retail forex trader data shows that the Australian Dollar likely set a substantial low, while the Japanese Yen might have topped. Here is a rundown of our top trade ideas.

View individual currency sections:

EURUSD - Euro Forecast to hit Fresh Peaks

GBPUSD - British Pound Poised to Break 200-Day Moving Average

USDJPY - This Might be the USDJPY Bottom - Why?

Gold - Gold Prices Could Bottom, but Better Trades Elsewhere

SPX500 - Crowd Sentiment Points to Further SPX Losses

AUDUSD - Australian Dollar Bottom in Place - Looking to Buy

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_Picture_17.png, Forex Sentiment Points to Major Aussie Dollar and Yen Reversals

It’s extremely risky to try and time market tops and bottoms, but there’s too much evidence to ignore the possibility that the AUDUSD and USDJPY recently set substantial lows.

I wrote this last week and it remains true: “Our retail sentiment-based trading strategies can be very streaky—they spend a lot of time doing very well or very poorly and not much time in between.” Past performance is not indicative of future results, but highly-volatile forex markets leave us in favor of trading key AUDUSD and JPY reversals via our Momentum2/”Tidal Shift” strategy.

Read full currency pair-by-currency pair rundowns in the links above, and follow future updates on retail sentiment and our trading strategies via my e-mail distribution list.

ssi_table_story_body_Picture_10.png, Forex Sentiment Points to Major Aussie Dollar and Yen Reversalsssi_table_story_body_1a.png, Forex Sentiment Points to Major Aussie Dollar and Yen Reversals

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

--- 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.

Contact David via

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

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

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