AUDUSD – Retail forex traders are near their most net-long AUDUSD on record, and the aggressive shift towards crowd buying leaves us plainly in favor of further Aussie Dollar weakness.
Trade Implications – AUDUSD: Last week we wrote that the AUD bounce was likely over, and indeed we remained plainly in favor of weakness. Yesterday we highlighted the fact that forex volatility had jumped in Australian Dollar pairs, and we now remain in favor of using our Breakout2 trading system to take advantage of AUDUSD sentiment extremes.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
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
Facebook at http://www.Facebook.com/DRodriguezFX
- Finance Trading