US Dollar Forecast to Lose Further Against Euro on Forex Sentiment
Posted 06-17-2010 at 04:17 PM by DailyFX
EURUSD Euro Forecast to Rally Further Against US Dollar
GBPUSD British Pound Outlook Bullish on Sentiment
USDJPY Japanese Yen Expected to Recover against USD
USDCHF Swiss Franc May Strengthen against Dollar
USDCAD Canadian Dollar Forecast Calls for Gains
GBPJPY British Pound Forecast Somewhat Bearish Against Yen
A considerable pullback in the US Dollar has been met with aggressive forex trading crowd buying, giving contrarian signal to stay short the US Dollar against the Euro, British Pound, and Canadian Dollar. Last week we wrote that a considerable shift in sentiment called for continued USD pullbacks, and said forecast fit in well with our FX Options and Futures-based calls for Greenback declines. Given recently sharp corrections against the Euro, there is arguably less scope for continued dollar losses. Yet short-term momentum and forex crowd trading sentiment point to further EURUSD and GBPUSD gains.
GBPUSD British Pound Outlook Bullish on Sentiment
USDJPY Japanese Yen Expected to Recover against USD
USDCHF Swiss Franc May Strengthen against Dollar
USDCAD Canadian Dollar Forecast Calls for Gains
GBPJPY British Pound Forecast Somewhat Bearish Against Yen
A considerable pullback in the US Dollar has been met with aggressive forex trading crowd buying, giving contrarian signal to stay short the US Dollar against the Euro, British Pound, and Canadian Dollar. Last week we wrote that a considerable shift in sentiment called for continued USD pullbacks, and said forecast fit in well with our FX Options and Futures-based calls for Greenback declines. Given recently sharp corrections against the Euro, there is arguably less scope for continued dollar losses. Yet short-term momentum and forex crowd trading sentiment point to further EURUSD and GBPUSD gains.
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