US Dollar Strength Likely to Continue According to Forex Sentiment Read more: DailyF
Posted 01-21-2010 at 03:18 PM by DailyFX
EURUSD – Euro Forecast Turns Bearish Against US Dollar
GBPUSD – British Pound Outlook Relatively Optimistic
USDJPY – Japanese Yen Trading Bias Turns Against US Dollar
USDCHF – Swiss Franc Forecast to Depreciate vs. USD
USDCAD – Canadian Dollar Likely to Weaken Further Against USD
GBPJPY – British Pound Forecast Bullish versus Japanese Yen
Recently-choppy US Dollar price action has made for similarly directionless shifts in forex sentiment, and we believe that the US Dollar is likely to continue range-trading against the Euro. Strong rallies in the British Pound, on the other hand, seem likely to continue given strongly one-sided crowd positioning and give us reason to believe that the GBP will continue to gain against the USD and Japanese Yen. We see similarly extreme crowd sentiment in the Canadian Dollar and accordingly call for further CAD strength against its US namesake (USDCAD losses), while forecasts likewise point to further Swiss Franc rallies against the Euro and US Dollar. Watch our twice-a-day updates on DailyFX+ for more up-to-date SSI positioning data.
GBPUSD – British Pound Outlook Relatively Optimistic
USDJPY – Japanese Yen Trading Bias Turns Against US Dollar
USDCHF – Swiss Franc Forecast to Depreciate vs. USD
USDCAD – Canadian Dollar Likely to Weaken Further Against USD
GBPJPY – British Pound Forecast Bullish versus Japanese Yen
Recently-choppy US Dollar price action has made for similarly directionless shifts in forex sentiment, and we believe that the US Dollar is likely to continue range-trading against the Euro. Strong rallies in the British Pound, on the other hand, seem likely to continue given strongly one-sided crowd positioning and give us reason to believe that the GBP will continue to gain against the USD and Japanese Yen. We see similarly extreme crowd sentiment in the Canadian Dollar and accordingly call for further CAD strength against its US namesake (USDCAD losses), while forecasts likewise point to further Swiss Franc rallies against the Euro and US Dollar. Watch our twice-a-day updates on DailyFX+ for more up-to-date SSI positioning data.
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