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One Major Reason the US Dollar May Head Lower

One Major Reason the US Dollar May Head Lower

David Rodriguez, Head of Product

Article Summary: Forex trading crowd sentiment suggests the US Dollar is likely headed lower, and indeed we’re looking to play important turns in the British Pound and Gold prices.

View individual currency sections:

EURUSD - Euro Forecast Hinges on Forex Crowd’s Next Move

GBPUSD - Key Reason British Pound Might Head Higher

USDJPY - Japanese Yen No Longer the Only Game in Town

Gold - Gold Prices Might Shine Again as Sentiment Turns

SPX500 - SPX500 Headed for Fresh Highs

AUDUSD - Australian Dollar Shows Signs of Life

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_Picture_5.png, One Major Reason the US Dollar May Head Lower

An important turn in forex market trading conditions and similarly significant shift in retail trader sentiment leaves us in favor of short-term US Dollar weakness. How might we play it?

Past performance is not indicative of future results, but our retail sentiment-based Momentum2/”Tidal Shift” system has done especially well trading the British Pound/US Dollar pair through recent system in particular.

Said strategy is currently short GBPUSD from $1.5100 and has broadly bought into US Dollar strength. Yet it most recently went long AUDUSD from $0.9136, and indeed its next move is likely going short US Dollars across the board.

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_6.png, One Major Reason the US Dollar May Head Lowerssi_table_story_body_Picture_7.png, One Major Reason the US Dollar May Head Lower

Automate our SSI-based trading strategies via Mirror Trader free of charge

--- 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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