Recent US Dollar declines have been met with continued crowd buying, giving contraria

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US Dollar May Fall Further on Crowd Trading


Recent US Dollar declines have been met with continued crowd buying, giving contrarian signal that the USD may continue its decline versus the Euro and British Pound. Yet crowds have sold the US currency into a recent USDCHF and USDCAD bounce—warning that both trends may slow and reverse through the near-term. Forex futures and options sentiment warns that the US currency could continue lower before making a more substantive bounce into the New Year. The speed with which sentiment has shifted against the Greenback warns against taking aggressive USD-long positions.

[forexsoup]

* EURUSD – Euro Forecast to Rally Further Against US Dollar
* GBPUSD – British Pound Outlook Bullish on Sentiment
* USDJPY – Japanese Yen Trading Bias Unclear
* USDCHF – Swiss Franc Sentiment Warns of Trend Shift
* USDCAD – Canadian Dollar Could Reverse against US Dollar
* GBPJPY – British Pound May Rally Against Japanese Yen