Forex trading crowds have bought into Dollar weakness against the Euro, Gold prices, and even the S&P 500. We see scope for USD weakness and further records for stocks.
View individual currency sections:
EURUSD - Euro Poised to Break Higher - Watch $1.32
GBPUSD - British Pound Turns the Corner - Clear Skies Ahead?
USDJPY - Japanese Yen Likely to Fall to Fresh Lows
XAUUSD - Gold Prices Rally - Time to Buy?
SPX500 - Stocks See Déjà Vu All Over Again - Further Records Likely
AUDUSD - Australian Dollar Shows Signs of Life
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.
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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