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Forex Trader Sentiment Favors buying Euro, Selling US and AU Dollar

Forex Trader Sentiment Favors buying Euro, Selling US and AU Dollar

David Rodriguez, Head of Product

- Retail FX trader data shows that majority have sold into Euro bounce, bought USD pullback

- We view this as contrarian signal the Euro may continue higher

- See full analysis below in individual currency sections

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

View individual currency sections:

EURUSD - Euro Likely to Test Further Highs versus US Dollar

GBPUSD - British Pound Remains a Sell versus US Dollar

USDJPY - US Dollar’s Next Step versus Japanese Yen is Uncertain

AUDUSD - Australian Dollar Forecast to Decline Further

NZDUSD - New Zealand Dollar in Position to Continue Lower

GBPJPY - British Pound Forecast to Strengthen against Yen

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

Our retail forex trader data shows many have bought aggressively into the US Dollar pullback. We view this as contrarian signal the Euro may continue higher.

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.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

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

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