Positioning Shifts Leaves USD on Neutral Footing versus EUR, AUD, GBP
- USDJPY positioning still favors further downside in the pair.
- Gold will struggle to rally as crowd remains net-long.
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Weekly Summary of Forex Trader Sentiment and Changes in Positioning
The week before the Federal Reserve meets for its highly anticipated September policy meeting, the retail crowd is already scaling back long US Dollar exposure. Accordingly, our AUDUSD, EURUSD, and GBPUSD forecasts have been neutralized ahead of what should be a tense week in the run up to the September 17 meeting.
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--- Written by Christopher Vecchio, Currency Strategist
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.