- Retail FX trader data shows that majority have sold into Euro bounce, bought USD pullback
- We view this as contrarian signal the Euro may continue higher
- See full analysis below in individual currency sections
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View individual currency sections:
EURUSD - Euro Likely to Test Further Highs versus US Dollar
GBPUSD - British Pound Remains a Sell versus US Dollar
USDJPY - US Dollar’s Next Step versus Japanese Yen is Uncertain
AUDUSD - Australian Dollar Forecast to Decline Further
NZDUSD - New Zealand Dollar in Position to Continue Lower
GBPJPY - British Pound Forecast to Strengthen against Yen
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Our retail forex trader data shows many have bought aggressively into the US Dollar pullback. We view this as contrarian signal the Euro may continue higher.
See specific US Dollar forecasts in the sections above, and sign up for future e-mail updates via this author’s e-mail distribution list.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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