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US Dollar Shows Signs of Life vs Japanese Yen, Gold, British Pound

US Dollar Shows Signs of Life vs Japanese Yen, Gold, British Pound

David Rodriguez, Head of Product

Forex trading crowds have sold into Dollar strength versus the Japanese Yen and other counterparts – this could be the start of a US Dollar turnaround.

View individual currency sections:

EURUSD - Euro Forecast Calls for Further Gains for This Reason

GBPUSD - Careful on British Pound - Imminent Risk of Further Declines

USDJPY - Japanese Yen Seems Likely to Fall Further

XAUUSD - Gold Prices in Danger of a Key Turn - Here’s Why

SPX500 - S&P 500 Rallies at Risk due to Clear Turn in Sentiment

AUDUSD - Risk of Australian Dollar Turnaround is Real - but When?

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_Picture_10.png, US Dollar Shows Signs of Life vs Japanese Yen, Gold, British Pound

Our retail forex trader sentiment sample shows clear risk of further US Dollar weakness versus the Euro, but key signs of turnaround in the Dow Jones FXCM Dollar Index (ticker: USDOLLAR) suggests the Greenback may gain more broadly. Where does this leave us?

Our Speculative Sentiment Index measures what proportion of retail traders are long and short on key currency pairs. Our sentiment-based trading strategies most often go against the crowd—if everyone’s buying, we prefer to sell and vice versa.

As things stand, most traders are buying into dollar weakness against the Euro—leaving us in favor of EURUSD gains. Elsewhere however, more traders have sold into USD strength. We see this as early sign of short-term turnarounds in the GBPUSD, Gold prices, and other key prices.

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 Shows Signs of Life vs Japanese Yen, Gold, British Poundssi_table_story_body_Picture_4.png, US Dollar Shows Signs of Life vs Japanese Yen, Gold, British Pound

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--- Written by David Rodriguez, Quantitative Strategist for

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