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US Dollar Has Held On, but Next Move Likely Lower

US Dollar Has Held On, but Next Move Likely Lower

David Rodriguez, Head of Product

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

ssi_table_story_body_Picture_5.png, US Dollar Has Held On, but Next Move Likely Lower

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.

ssi_table_story_body_Picture_11.png, US Dollar Has Held On, but Next Move Likely Lowerssi_table_story_body_Picture_12.png, US Dollar Has Held On, but Next Move Likely Lower

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--- 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

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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