Thursday, May 16, 2013

Huge Week for Forex Markets, but Even Bigger Moves Coming Soon


Weekly Summary of Forex Trader Sentiment and Changes in Positioning
ssi_table_story_body_Picture_10.png, Huge Week for Forex Markets, but Even Bigger Moves Coming Soon
Last week we wrote that traders remained short Euro, British Pound, and Japanese Yen against the downtrodden Greenback, but a substantive shift in sentiment and market conditions has effectively reversed our SSI-based forecasts.
We like buying the US Dollar across the board as volatility prices surge and retail traders do the opposite—particularly against the Australian Dollar and Swiss Franc.
And though we’ve previously spoken enthusiastically in favor of further Japanese Yen weakness (EURJPY, USDJPY strength), we might soon sing a different tune as warning signs become too difficult to ignore.
It’s been a big week for markets and key swings in retail forex sentiment warn even bigger moves are ahead.
(See the full SSI charts in the links above)
ssi_table_story_body_Picture_11.png, Huge Week for Forex Markets, but Even Bigger Moves Coming Soon

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