Dollar Plummets but Little Relief in Sight as Strategies Say 'Sell'
- Greenback targets fresh lows as forex crowds buy weakness
- Japanese currency similarly poised to fall versus Australian, European counterparts
- Forecasts would only change on a substantial swing in sentiment
View individual currency sections:
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Retail forex crowds continue buying aggressively into Dollar weakness, and our contrarian view on crowd sentiment leaves us plainly in favor of fresh USD lows. Indeed, our sentiment-based Momentum2 system has had an exceptional week going against the crowd and selling Greenback weakness.
What could change that? Only a substantial swing in retail forex sentiment would flip our trading biases.
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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.