TRD: US Dollar Has Held On, but Next Move Likely Lower
Forex trading crowds have bought into Dollar weakness against the Euro, Gold prices, and even the S&P 500. We see scope for USD weakness and further records for stocks.
Weā€™ve been calling for US Dollar weakness for a bit over a week now, and so far the Dow Jones FXCM Dollar Index (ticker: USDOLLAR) has proven surprisingly resilient. Yet retail forex trader sentiment seems fairly clear, and our sentiment-based Momentum2/ā€¯Tidal Shiftā€¯ system continues to sell into US Dollar weakness.
Read full currency pair-by-currency pair rundowns in the links above, and follow future updates on retail sentiment and our trading strategies via my e-mail distribution list.
