US Dollar Forecast is Clear: We Like Buying Dips
View individual currency sections:
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
I recently wrote clearly in favor of US Dollar strength—particularly against the Euro and other relative outperformers in 2013. My argument was based on incredible volatility across financial markets—particularly in US Treasuries, the S&P 500, and commodity prices.
On the forex side of things we see that one-sided retail trader sentiment mostly confirms calls for Dollar strength. The devil is always in the details, of course—the risk of a short-term US Dollar pullback is real. Yet I’ll look to buy USD declines (sell EURUSD bounces) via our sentiment-based trading strategies and our Momentum2/”Tidal Shift” system in particular.
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.
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
Facebook at http://www.Facebook.com/DRodriguezFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.