Traders Get it Right as Dollar Hits it Big - What Now?

DailyFX

- Retail forex traders take profit on US Dollar-long positions on major reversal

- Substantial pullbacks in price and sentiment suggests USD reversal in place

- We’re looking higher for the US currency versus the Euro, GBP, NZD, CHF, and Gold

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View individual currency sections:

EURUSD - Euro Finally Makes the Move We’ve Been Watching

GBPUSD - Major Shift in British Pound Sentiment Confirms the Top

USDJPY - Dollar Not out of the Woods versus the Japanese Yen

NZDUSD - New Zealand Dollar Sets Tradable Top versus USD

GOLD - Gold Prices Likely Set Significant Peak

USDCHF - Swiss Franc Reversal Shows Promise

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

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The Dollar finally set the price reversal we’ve been waiting for, and retail FX traders were heavily long into the bounce. What now?

See specific US Dollar forecasts in the sections above, and sign up for future e-mail updates via this author’s e-mail distribution list.

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--- 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.
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