Sentiment Warns that Japanese Yen and Euro May Have Turned
Forex trading crowds have bought recent Euro weakness and sold Japanese Yen strength. Our sentiment-based strategies have sold EURJPY and USDJPY as a turn seems imminent.
View individual currency sections:
EURUSD - Euro Correction May Offer Buying Opportunity
GBPUSD - British Pound Forecast to Fall Further
USDJPY - Japanese Yen Sentiment Warns of Turning Point
XAUUSD - Gold Prices Forecast to Fall Further on Sentiment
USDCHF - USDCHF Nears Critical Resistance as Sentiment Favors Losses
AUDUSD - Australian Dollar Forecast to Fall Further
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Our proprietary sentiment-based trading strategies have recently begun selling the Euro and Australian Dollar against the US Dollar and the Japanese Yen as forex positioning turns.
These trades represent a significant break from recent activity, but high FX volatility suggests that such trend and breakout-based strategies may do well through short-term trading.
Download eight years’ worth of SSI data via this link.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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