Forex Analysis: Trading Systems Sell US Dollar

Retail forex traders remain heavily long the US Dollar (ticker: USDOLLAR), and our sentiment-based strategies have sold the USD versus the Euro and other major counterparts.

View individual currency sections:

EURUSD - Trading Systems buy Euro versus US Dollar

GBPUSD - British Pound Could Fall Further versus US Dollar

USDJPY - Japanese Yen Forecast to Fall Further

USDCAD - Canadian Dollar Offers Range Trading

USDCHF - Swiss Franc Forecast to Fall Further

AUDUSD - Australian Dollar Could Break Lower

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_Picture_11.png, Forex Analysis: Trading Systems Sell US Dollar

Our proprietary sentiment-based trading strategies have actively sold the US Dollar and the Japanese Yen against major counterparts. Recent readings on USD and JPY trading conditions leave us broadly in favor of selling any short-term rallies; we like the systems’ recent trades.

Two important exceptions are the Swiss Franc and the Australian Dollar. The USDCHF has broken decisively higher and current momentum favors buying the USD against the Swiss currency. Our SSI-based systems have recently gone long the AUDUSD, but it will be critical to watch the pair’s next moves as it could break decisively below key support.

Download eight years worth of SSI data via this link.

ssi_table_story_body_Picture_12.png, Forex Analysis: Trading Systems Sell US Dollar

--- 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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MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.123-0.001-0.81%
    N21.SI
    0.3550.0000.00%
    E5H.SI
    0.235-0.005-2.08%
    5ME.SI
    0.725-0.010-1.36%
    G13.SI
    0.315+0.005+1.61%
    5OT.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.55+0.12+27.91%
    BJZ.SI
    0.45+0.09+25.00%
    BFK.SI
    0.46+0.06+15.00%
    M05.SI
    0.23+0.03+12.20%
    BTJ.SI
    0.525+0.055+11.70%
    BQD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.13-0.02-13.33%
    5TI.SI
    0.20-0.03-13.04%
    AWI.SI
    0.176-0.024-12.00%
    A04.SI
    0.166-0.022-11.70%
    AWS.SI
    0.155-0.020-11.43%
    5WD.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3637-0.0001-0.01%
    USDSGD=X
    1.51960.000.00%
    EURSGD=X
    1.7837+0.0003+0.02%
    GBPSGD=X
    75.4570-0.0010.00%
    SGDJPY=X
    5.6867+0.0019+0.03%
    SGDHKD=X
    2.97120.000.00%
    SGDMYR=X
    9,766.3584+6.3438+0.06%
    SGDIDR=X
    4.8961-0.0008-0.02%
    SGDCNY=X
    1.0245+0.0001+0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,314.80-1.70-0.13%
    GCZ16.CMX
    18.60+0.02+0.12%
    SIU16.CMX
    91.84-5.09-5.25%
    ^XAU
    2.070.00+0.02%
    HGU16.CMX
    46.08-0.27-0.58%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.180.00
    ^FVX
    1.570.00
    ^TNX
    2.23+0.02
    ^TYX