US Dollar May Fall Further on Forex Crowd Sentiment
Posted 07-15-2010 at 02:26 PM by DailyFX
EURUSD – Euro Forecast Strongly Bullish Against US Dollar
GBPUSD – British Pound Likely to Rally Further
USDJPY – Japanese Yen Outlook Positive Amidst Sentiment Shift
USDCHF – Swiss Franc May Strengthen against Dollar
USDCAD – Canadian Dollar Forecast Unclear Against Greenback
GBPJPY – British Pound Forecast to Decline Against
Yen
View individual currency SSI charts in our FX Sentiment section
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A sharp shift towards crowd US Dollar suggests that the USD may continue to slide against the Euro, British Pound, and Japanese Yen. The number of traders long the US Dollar against the British pound has surged 31 percent in the past week of trade, and such one-sided positioning often leads to further continuation in price. As the Greenback slips further the risk of short-term corrections rises, but current sentiment readings give us a firmly bearish US Dollar forecast through short-term trade.
GBPUSD – British Pound Likely to Rally Further
USDJPY – Japanese Yen Outlook Positive Amidst Sentiment Shift
USDCHF – Swiss Franc May Strengthen against Dollar
USDCAD – Canadian Dollar Forecast Unclear Against Greenback
GBPJPY – British Pound Forecast to Decline Against
Yen
View individual currency SSI charts in our FX Sentiment section
Interested in building your own SSI-based strategy? Request SSI data on our forex forum.
A sharp shift towards crowd US Dollar suggests that the USD may continue to slide against the Euro, British Pound, and Japanese Yen. The number of traders long the US Dollar against the British pound has surged 31 percent in the past week of trade, and such one-sided positioning often leads to further continuation in price. As the Greenback slips further the risk of short-term corrections rises, but current sentiment readings give us a firmly bearish US Dollar forecast through short-term trade.
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