We’ll be the first to admit when we’re wrong, but our retail sentiment-based predictions have been on point as we’ve called for major USD strength. What now?
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Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Last week we wrote plainly in favor of further US Dollar gains and even a potential Japanese Yen reversal. And though we’ll plainly admit that we’re probably more often wrong than right, we think this is only the beginning of USD and JPY strength.
DailyFX is the research arm of parent company FXCM Inc (FXCM), which gives us access to (anonymous) retail sentiment data. It’s this insider data that has historically given our (freely available to clients) sentiment-based systems an edge.
When there are so many signs pointing to the potential for a US Dollar surge, Japanese Yen reversal, and AUD/S&P 500 tumble we can’t emphasize enough that this could be a huge week/month/quarter for forex and broader financial markets.
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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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- Australia International News