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Dollar May Trade Higher on Potentially Big Sentiment Shift

Dollar May Trade Higher on Potentially Big Sentiment Shift

David Rodriguez, Head of Product

Video summary:

- US Dollar has bounced noticeably off of recent lows, particularly vs AUD

- Our sentiment-based trading strategies have now gone long

- This could represent an important turning point for the US currency

We've long been writing about the fact that the US Dollar was likely to fall to fresh lows against the Euro as crowds were their most short EURUSD on record. Yet our sentiment-based Momentum2 strategy has now gone in the opposite direction.

The video covers in full detail recent trades and why we think the Greenback could continue higher through near-term trading.

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forex_video_Strategy_Buys_US_Dollar_Ahead_of_FOMC_body_Mirror.png, Dollar May Trade Higher on Potentially Big Sentiment Shift

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