AUD/USD Tumble May Just Be the Start; EUR/USD Rally Favored
- US Dollar coming back into favor among retail traders.
- Australian Dollar sentiment shifts signal further losses.
- Recent trends likely to persist in absence of major event risk the remainder of the week.
View individual currency sections:
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Retail forex traders have been adding long US Dollar positions over the past several days, with the bulk of buying occurring in the wake of the weakest US labor market report since January 2011. The clearest opportunities in the market right now may be in the EURUSD, AUDUSD, and S&P 500.
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--- Written by Christopher Vecchio, Currency Analyst
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.