- 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 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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--- Written by Christopher Vecchio, Currency Strategist
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Contact Christopher via Twitter at http://www.twitter.com/CVecchioFX
