| | | | DailyFX Forex Options Weekly Forecast: Further US Dollar Pullback Likely
| | Forex futures and options sentiment suggests that the US Dollar (ticker: USDOLLAR) may continue to decline, consistent with a correction of previous gains while broader trends call for USD strength. Non-commercial futures traders were recently their most bearish the Euro against the US Dollar since the EURUSD set a significant bottom near 1.20 in 2010. And though sentiment extremes are only clear in hindsight, such one-sided positioning warned of a significant bounce. The next question is obvious: if this is truly a correction within a larger US Dollar rally, when may it end? Important targets on the EURUSD include the 1.4000 mark and key previous congestion near the 1.4100 mark. It will be important to watch how the US Dollar reacts when and if we get to those levels in the EURUSD.
|
Best regards,
David Rodríguez, Quantitative Strategist
drodriguez@dailyfx.com |
| | | | Forex Capital Markets, L.L.C.® assumes no responsibility for errors, inaccuracies or omissions in these materials. Forex Capital Markets, L.L.C.® does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. Forex Capital Markets, L.L.C.® shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results. | | | |
13:21
AutoForexTradingPro
