US Dollar Has Held On, but Next Move Likely Lower
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XAUUSD - Gold Prices Rally - Time to Buy?
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
We’ve been calling for US Dollar weakness for a bit over a week now, and so far the Dow Jones FXCM Dollar Index (ticker: USDOLLAR) has proven surprisingly resilient. Yet retail forex trader sentiment seems fairly clear, and our sentiment-based Momentum2/”Tidal Shift” system continues to sell into US Dollar weakness.
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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.