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Forex Trader Sentiment Swings, Lifting US Dollar Outlook from 'Bearish'

Forex Trader Sentiment Swings, Lifting US Dollar Outlook from 'Bearish'

Christopher Vecchio, CFA, Senior Strategist

- Crowd reduction in US Dollar long positions may soon signal turning point.

- USD/JPY may be approaching a bullish signal soon.

- See full analysis below in individual currency sections.

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View individual currency sections:

EURUSD - Euro Forecast versus US Dollar Now Neutral

GBPUSD - British Pound Outlook Neutral as Short Positions Ebb

USDJPY - Crowd Still Net-Long USD/JPY, but Outlook Less Certain

AUDUSD - Australian Dollar Forecast Turns Bearish

NZDUSD - New Zealand Dollar Outlook Less Clear

GBPJPY - GBP/JPY Rally Expected to Continue

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

Forex Trader Sentiment Swings, Lifting US Dollar Outlook from 'Bearish'

Forex trading crowds backed away from their heavily long US Dollar positions, particularly versus the Euro, Sterling, Yen, Australian Dollar, and New Zealand Dollar. We are taking a neutral forecast on the US Dollar overall.

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Forex Trader Sentiment Swings, Lifting US Dollar Outlook from 'Bearish'

--- Written by Christopher Vecchio, Currency Strategist

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Contact Christopher via Twitter at http://www.twitter.com/CVecchioFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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