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Forex Trader Sentiment Warns of Major US Dollar Test Ahead

Forex Trader Sentiment Warns of Major US Dollar Test Ahead

David Rodriguez, Head of Product

- Retail FX traders are aggressively long the GBP, AUD, and NZD – watch for further declines

- Yet US Dollar outlook remains unclear as major USD pairs trade at significant price levels

- Why do we use retail sentiment as a contrarian indicator? View our video guide

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 Key Near-term Resistance

GBPUSD - British Pound Forecast to hit Further Lows

USDJPY - US Dollar Remains Likely to Hold Support versus Yen

AUDUSD - Australian Dollar Test of Support is a Big Deal

NZDUSD - New Zealand Dollar Outlook Remains Negative

XAUUSD - Gold Prices May have Turned the Corner

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

The US Dollar remains in position to strengthen versus the British Pound, Australian Dollar, and New Zealand Dollar. Yet we’ll need to watch broader USD reactions at key price levels.

View Real-Time SSI Updates via the FXCM Trading Station Desktop

See a video on how we use the Speculative Sentiment Index in our trading

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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