- Our sentiment-based trading strategies have done well in strong Euro, AU$, Yen trends
- Commodity markets remain at further risk of declines as gold sentiment at major extremes
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Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Retail forex traders have never been more short Euro and are extremely long the Australian Dollar and Gold prices. We’re watching these currencies for near-term trade opportunities.
Past performance is not indicative of future results, but our sentiment-based trading strategies have done well trading the Euro higher and the Australian Dollar lower. And indeed trading into current trends may be the best bet as major reversals seem unlikely through quiet year-end trading.
There’s obviously risk of short-term sentiment extremes in the Euro, Aussie Dollar, Gold prices, and other key markets. Yet those extremes are only clear in hindsight, and a contrarian view of crowd sentiment leaves us positioned for a continuation in several strong FX trends.
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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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