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Aussie Dollar, Yen, and Gold Prices Plummet - We Like Selling

Aussie Dollar, Yen, and Gold Prices Plummet - We Like Selling

2013-06-20 15:00:00
David Rodriguez, Head of Product

The post-FOMC Dollar surge has left the Aussie, Yen, and Gold substantially lower. Our forex strategies have sold AUDUSD and bought USDJPY, whileGold may also see further losses.

View individual currency sections:

EURUSD - Euro Plummet Warns of Further Declines

GBPUSD - British Pound Forecast Flips - We Favor GBPUSD Losses

USDJPY - Yen Likely Set Huge Top (USDJPY Bottom) on FOMC Meltdown

Gold - Gold Prices See Meltdown - Watch Out Below

SPX500 - SPX Could Fall Even Further After Pivotal FOMC Shift

AUDUSD - Australian Dollar Meltdown Post-FOMC Warns of Further Losses

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_Picture_16.png, Aussie Dollar, Yen, and Gold Prices Plummet - We Like Selling

Last week I wrote of material risks of an Australian Dollar bounce and Japanese Yen tumble—I couldn’t have been any more wrong on the AUDUSD, but that in itself is significant. Why?

The focus of my (painfully wrong) AUD forecast was the fact that large forex futures traders were their most net-short AUDUSD on record, and an inevitable short-covering could force an Aussie Dollar bounce. But that obviously didn’t happen, and the fact is that professional traders seem willing to continue to buy the US Dollar across the board—that’s significant.

It signals that the US Dollar could go far higher before an important correction. The fact that our retail forex trader sample shows crowds are selling into Dollar gains serves as contrarian signal that the currency may continue higher.

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_11.png, Aussie Dollar, Yen, and Gold Prices Plummet - We Like Sellingssi_table_story_body_1a.png, Aussie Dollar, Yen, and Gold Prices Plummet - We Like Selling

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--- Written by David Rodriguez, Quantitative Strategist for

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