U.S. Markets open in 6 hrs 20 mins

Australian Dollar May Bounce as Crowds Sell

David Rodriguez


ssi_aud-usd_body_Picture_19.png, Australian Dollar May Bounce as Crowds Sell

AUDUSD – Retail forex traders have stopped buying the Australian Dollar, and in fact a recent shift in positioning suggests the AUDUSD may continue higher through short-term trading.


Trade Implications – AUDUSD: Our sentiment-based trading strategies have most recently bought the Australian Dollar against the Japanese Yen and US Dollar, as a sharp shift in retail trader sentiment warns that this may be the start of a larger correction. The overall trend remains down, but counter-trend traders might find AUDUSD buying opportunities as near-term targets are in the $1.0374-$1.0400 range.


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


To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.


ssi_aud-usd_body_1a_5.png, Australian Dollar May Bounce as Crowds Sell

View how to automate the high-volatility Breakout2 Trading System via our previous article and webinar recording.


Auto trade the trend reversal-trading Momentum2system via our previous article and webinar recording.


Trade with strong trends via our Momentum1 Trading System and view an archived webinar


Use our counter-trend Range2 Trading system and view an archived webinar guide on automation


New to FX markets? Learn more in our video trading guide.


Contact David via

Twitter at https://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX



DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.