One Major Reason the US Dollar May Head Lower
View individual currency sections:
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
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.
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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.