Forex Sentiment Points to Major Aussie Dollar and Yen Reversals

DailyFX

Retail forex trader data shows that the Australian Dollar likely set a substantial low, while the Japanese Yen might have topped. Here is a rundown of our top trade ideas.

View individual currency sections:

EURUSD - Euro Forecast to hit Fresh Peaks

GBPUSD - British Pound Poised to Break 200-Day Moving Average

USDJPY - This Might be the USDJPY Bottom - Why?

Gold - Gold Prices Could Bottom, but Better Trades Elsewhere

SPX500 - Crowd Sentiment Points to Further SPX Losses

AUDUSD - Australian Dollar Bottom in Place - Looking to Buy

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

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It’s extremely risky to try and time market tops and bottoms, but there’s too much evidence to ignore the possibility that the AUDUSD and USDJPY recently set substantial lows.

I wrote this last week and it remains true: “Our retail sentiment-based trading strategies can be very streaky—they spend a lot of time doing very well or very poorly and not much time in between.” Past performance is not indicative of future results, but highly-volatile forex markets leave us in favor of trading key AUDUSD and JPY reversals via our Momentum2/”Tidal Shift” strategy.

Read full currency pair-by-currency pair rundowns in the links above, and follow future updates on retail sentiment and our trading strategies via my e-mail distribution list.

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ssi_table_story_body_Picture_10.png, Forex Sentiment Points to Major Aussie Dollar and Yen Reversals

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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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