US Dollar Breakdown Looks Like the Real Deal
- Forex retail trading crowds have bought aggressively into Dollar weakness
- A contrarian view of crowd sentiment leaves us in favor of further declines
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
View individual currency sections:
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
The US Dollar has broken substantial lows versus the Euro and nears major price support versus the Japanese Yen and others. Why do we think it breaks lower?
Given the breakdown and a sharp shift in crowd sentiment, we see little choice but to remain in favor of continued USD weakness. Follow any future updates on retail positioning via this author’s e-mail distribution list.
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.