We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • LIVE IN 30 MIN: In this session, Strategist @DavidJSong will discuss trading strategies for the top event risk in the week ahead https://www.dailyfx.com/webinars/175202251
  • The possibility of a Covid-19 cure by year end keeps market sentiment high despite ongoing political tensions. Get your $USDMXN market update from @HathornSabin here: https://t.co/6DIf6krA3E https://t.co/IxeRbjHpQm
  • Join analyst @DavidJSong at 6:30 PM ET/10:30 PM GMT for your weekly update on key news trading events. Register here: https://t.co/gBlrRpCc55 https://t.co/qqWZkK1G8B
  • The commodity currencies, AUD, CAD, and NZD, which typically benefit from their higher yield profile relative to other currencies (the carry trade), no longer hold this advantage. Get your #currencies market update from @CVecchioFX here: https://t.co/3oWXhp0hCX https://t.co/qOgXnf0JKK
  • The long-term outlook for the Euro has been boosted significantly by a Franco-German proposal for a €500 billion coronavirus Recovery Fund, even though an agreement is not yet close. Get your $EURUSD market update from @MartinSEssex here: https://t.co/onP43pXuDi https://t.co/nynDJ9P6br
  • On Friday, EUR/GBP surged to an over six-week high at 0.8940 then closed the weekly candlestick in the green with a 2.3% gain. Get your $EURGBP market update from @malkudsi here: https://t.co/ln09Ijn7rd https://t.co/OCe7fzGGC0
  • The Canadian Dollar has proven stable in recent weeks following a dramatic turn lower in March, guided to the downside by energy markets. Get your $USDCAD market update from @CVecchioFX here: https://t.co/7tlrn74X3t https://t.co/OGqZzWaxU4
  • As political tensions between the US and China increase, $gld is picking up a safe-haven bid ahead of the long weekend and may look to press higher. Get your $XAUUSD market update from @nickcawley1 here: https://t.co/boUn4vyfCO https://t.co/sVtnBALhw7
  • Both WTI and Brent crude futures have conformed to the negative risk tone, however, investors will be eying the latest Baker Huges rig count for another drop in #oil rigs. Get your market update on currencies, commodities & stocks from @JMcQueenFX here: https://t.co/G6CEBzNXVA https://t.co/gosmDwkKSX
  • The $USD gained ground while the $SPX Index edged lower headed into the final trading session this week. Get your #equities market update from @RichDvorakFX here: https://t.co/lgn2Pg0TAH https://t.co/Wq3t8Q67U0
US Dollar Turnaround the Real Deal - Here's Why

US Dollar Turnaround the Real Deal - Here's Why

2013-08-29 16:00:00
David Rodriguez, Head of Product
Share:

The US Dollar likely set a major bottom versus the Euro, British Pound, and Australian Dollar. How might we trade it?

View individual currency sections:

EURUSD - Forex Moves and Sentiment Confirm Major EURUSD Top

GBPUSD - British Pound Forecast to Trade Lower versus US Dollar

USDJPY - Japanese Yen Likely to Hit Fresh Peaks versus Euro, GBP

XAUUSD - Gold Remains Bright Spot versus the Resurgent US Dollar

SPX500 - S&P 500 at Make or Break Levels - Is this the Top?

AUDUSD - Australian Dollar Turnaround is the Real Deal

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_Picture_17.png, US Dollar Turnaround the Real Deal - Here's Why

Our proprietary Speculative Sentiment Index data shows that retail forex traders have sold aggressively into recent US Dollar strength versus the Euro, British Pound, and Australian Dollar. We use the SSI as a contrarian signal to price action; if crowds are selling, we look to buy.

Combined with a potentially significant shift in forex market conditions, this is reason enough to call for further Greenback strength.

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_10.png, US Dollar Turnaround the Real Deal - Here's Why ssi_table_story_body_Picture_5.png, US Dollar Turnaround the Real Deal - Here's Why

Automate our SSI-based trading strategies via Mirror Trader free of charge

--- 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

Twitter at http://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

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

DISCLOSURES

News & Analysis at your fingertips.