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US Dollar, Yen, and Australian Dollar Offer Attractive Trade Setups

US Dollar, Yen, and Australian Dollar Offer Attractive Trade Setups

David Rodriguez, Head of Product

- Dollar surges versus Yen, and our sentiment-based trading systems buy

- Those same strategies are likely to sell the Aussie Dollar and buy the British Pound

- Steady crowd sentiment gives us fairly clear trading biases on key pairs

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

View individual currency sections:

EURUSD - Euro Decline May Offer Opportunity to Get Long

GBPUSD - British Pound Rally at Risk but We’re Not Selling Yet

USDJPY - Japanese Yen May Continue Recent Tumbles

Gold - Further Gold Price Declines Seem Likely

SPX500 - S&P 500 Rally Starting to Look Frail

AUDUSD - Further Australian Dollar Declines Seem Likely

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_x0000_i1040.png, US Dollar, Yen, and Australian Dollar Offer Attractive Trade Setups

The Japanese Yen looks likely to fall further versus the US Dollar, but the Greenback looks like an attractive buy versus Gold prices and the Australian Dollar. What are we trading?

Our proprietary retail forex trader data shows that the majority of traders are heavily long the Japanese Yen (short USDJPY, GBPJPY), Gold prices, and the Australian Dollar.

A contrarian view of crowd sentiment has led our retail FX sentiment-based strategiesto go in the opposite direction and buy USDJPY, while the same systems are likely to continue selling into AUDUSD weakness.

See specific US Dollar forecasts in the sections above, and sign up for future e-mail updates via this author’s e-mail distribution list.

ssi_table_story_body_Picture_11.png, US Dollar, Yen, and Australian Dollar Offer Attractive Trade Setupsssi_table_story_body_Picture_12.png, US Dollar, Yen, and Australian Dollar Offer Attractive Trade Setups

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

--- 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.