U.S. Markets open in 7 hrs 48 mins

Australian Dollar Sees No Relief in Sight

David Rodriguez
ssi_aud-usd_body_Picture_19.png, Australian Dollar Sees No Relief in Sight

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

Australian dollarRetail forex trading crowds continue to buy aggressively into Australian Dollar weakness, and our sentiment-based Momentum2 strategy has done well selling into AUDUSD declines and buying into EURAUD strength.

Trade Implications – AUDUSD: The Australian Dollar is currently at its worst consecutive weekly decline since 1986, and it’s obvious that overall momentum is stretched. Yet we see little reason to call for a meaningful reversal.

As long as crowds continue buying Australian Dollar weakness, our sentiment-based trading strategies will continue to sell.

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

ssi_aud-usd_body_Picture_20.png, Australian Dollar Sees No Relief in Sight

Automate our SSI-based trading strategies via Mirror Trader free of charge

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

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.