Forex Positioning Warns that the US Dollar May Lose Further
- Crowds remain aggressively short the US Dollar, we look for further Euro, Gold, and GBP declines
- Watch for a potential Dollar pullback versus the New Zealand Dollar, however
- Why do we use retail sentiment as a contrarian indicator? View our guide and download here
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View individual currency sections:
EURUSD - Euro Forecast Turns Bearish as Crowds Buy
GBPUSD - British Pound Expected to Trade Lower
USDCAD - US Dollar Likely to Strengthen versus Canadian Dollar
SPX500 - S&P 500 Remains in Position to Rally
NZDUSD - New Zealand Dollar Outlook Remains Positive
XAUUSD - Gold Price Forecast to Fall Further versus Dollar
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Retail FX traders remain aggressively long the US Dollar versus the Euro, British Pound, Canadian Dollar, and Gold prices. Until this changes we remain in favor of buying into USD gains.
Why and how do we use the SSI in trading? View our video and download the free indicator here
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.