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US Dollar Might Have Set Significant Peak versus Euro Post-ECB

US Dollar Might Have Set Significant Peak versus Euro Post-ECB

David Rodriguez, Head of Product

- Dollar surges post-ECB versus Euro but may have set a significant top

- Retail forex traders have sold into the post-ECB Euro bounce

- Our sentiment-based trading systems will likely sell the US Dollar on the positioning shift

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

View individual currency sections:

EURUSD - Euro Likely Set Important Bottom as Crowds Give up Post-ECB

GBPUSD - British Pound Likely to Test Key Highs versus US Dollar

GBPJPY - Japanese Yen at Potentially Substantial Turning Point

Gold - Gold Prices Likely to Fall Further

SPX500 - S&P 500 Sees Clear Skies Ahead

AUDUSD - Australian Dollar Likely to Fall to Fresh Lows

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_Picture_5.png, US Dollar Might Have Set Significant Peak versus Euro Post-ECB

The US Dollar surged versus the Euro following the European Central Bank rate decision, but a substantial shift in sentiment warns of an important EURUSD bottom.

Our retail FX sentiment-based strategies have done well buying into US Dollar strength as it reversed sharply off of multi-year lows versus the Euro. But today’s important swing in positions means that their next trades may actually be USD short orders (EURUSD, GBPUSD longs).

The next move looks critical, and it will be important to watch where the Euro/US Dollar exchange rate closes. Yet early signs favor an important reversal.

Follow any future updates on retail positioning via this author’s e-mail distribution list.

ssi_table_story_body_Picture_6.png, US Dollar Might Have Set Significant Peak versus Euro Post-ECBssi_table_story_body_Picture_7.png, US Dollar Might Have Set Significant Peak versus Euro Post-ECB

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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.