The USD/CAD has been trading within the confines of a broad ascending channel formation off dating back to 2015 with the reversal off confluence resistance at 1.4659 last month shifting the focus lower in pair.
The breakdown is now coming into some key support zones as momentum approaches the 40-support threshold heading into tomorrow’s Non-Farm Payroll report. Michael Boutros discusses this in detail in his article on DailyFX.com
In his weekly report on the Commitments of Traders (COT) data, Jamie Saettele discusses extreme positioning in the Euro.
Commitments of Traders data are available as an MT4 indicator on FXCMapps.com
A massive shift in Gold and S&P 500 sentiment warns that further losses are in store for the US Dollar and global stock markets.
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
David Rodriguez discusses the implications of the latest SSI readings for the Euro, Pound, Canadian dollar, Gold, DAX and S&P 500 in his Weekly Speculative Sentiment Index (SSI) report on DailyFX.com
In his Weekly Speculative Sentiment (SSI) Index report, DailyFX quantitative strategist David Rodriguez says, “A major turn in retail FX trader positioning warns that the Euro could continue lower, while the S&P 500 finally looks like a buy.”
[B]Weekly Summary of Forex Trader Sentiment and Changes in Positioning[/B]
With all the interest in the British pound due to Brexit concerns, I thought you might be interest in this latest chart from senior currency strategy Kristian Kerr:
"The chart [below] shows a fairly clear 8-year low to low cycle in GBP/USD. The 8 to 9 year cycle is one of my idealized intervals as it fits well with the Martin Armstrong Pi cycle and other geometric concepts…
“More importantly, it also argues that GBP/USD is in the tail end of this cycle and should head generally lower into the latter part of next year/first part of 2018, which coincidentally aligns with other long-term relationships…”
You can read Kerr’s complete analysis of the GBP/USD 8-year cycle on DailyFX.com
Forex trading crowds continue buying into British Pound and US Dollar weakness.
In his Weekly Summary of Forex Trader Sentiment on DailyFX.com, quantitative strategist David Rodriguez explains why he thinks the GBP and USD will likely fall further against the Euro and Gold.
An aggressive turn in retail trader sentiment warns that the Euro will likely continue lower, while the S&P 500 and German DAX may recover further.
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
You can see what David Rodriguez is watching in his Weekly Speculative Sentiment Index (SSI) report on DailyFX.com
This recent @DailyFXTeam tweet shows how the Speculative Sentiment Index (SSI) has dropped after today’s FOMC announcement.
Yesterday there were 1.8 long positions for every short. Now their are only 1.4. Since SSI is a contrarian indicator, this reduction in long positions is actually a bullish signal that GBP/USD could go higher.
Forex trader sentiment warns that the Euro may finally break higher as the US Dollar sees a big post-Fed sell-off.
Quantitative strategist David Rodriguez explains the key factors he is watching in his article on DailyFX.com
Quantitative strategist David Rodriguez had this to say about the S&P 500 (tradable as the SPX500 on our platform:
"The US S&P 500 looks at considerable risk of reversal as retail traders pull back from a potentially significant sentiment extreme. It was only two days ago when we noted a record net-short position in the SPX500, and indeed we’ve since seen traders pull back as the index has reversed.
“Traders are often their most short at important market tops, but these are by definition only clear in hindsight. The potential sentiment extreme and subsequent pullback suggests that we have indeed seen a fairly significant market top.”
You can read his complete Weekly Speculative Sentiment Index (SSI) report at DailyFX.com
The DailyFX Speculative Sentiment Index (SSI) shows the retail FX crowd remains net-short EUR/USD since March 10, with the ratio working its way back towards recent extremes as it slipped below -2.00 earlier this month.
The ratio currently sits at -1.49 as 40% of traders are long, with short positions increasing 15.0% from the previous week, while open interest stands 13.1% above the monthly average. Currency analyst David Song explains why this could mean fresh 2016 highs for EUR/USD in his article on DailyFX.com
hey Jason - i see you are here as well ?
good to see a familiar face dude …:56:
Neil
(NVP)
What can I say? I’m a man of the world. 
It’s good to see you too, Neil 
Your forum profile says you joined the site back in 2007, but I see you’ve just started posting actively now. Welcome to BabyPips!
I noticed T2W is down. Is that what brings you here?
Retail FX traders have sold aggressively into the sharp Euro and S&P 500 rallies.
A contrarian view of crowd sentiment favors buying, but it will be critical to watch the key factors identified today by David Rodriguez in his article on DailyFX.com
Retail forex traders continue buying aggressively into US Dollar weakness, while positioning on the S&P 500 remains near records:
In his Weekly Speculative Sentiment Index (SSI) report on DailyFX.com, quantitative strategist David Rodriguez says, “We’re on the verge of something big—here’s what we’re watching.”
“Heavily one-sided retail FX and CFD trader sentiment warns the US Dollar may continue to lose versus the Euro and Japanese Yen, while we expect the S&P 500 and German DAX will rally until this changes,” said quantitative strategist David Rodriguez in his Weekly Speculative Sentiment Index (SSI) report on DailyFX.com:
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
A heavy slate of data awaits markets, with tomorrow’s FOMC meeting looming large over USD, S&P and even Oil trends. DailyFX analyst James Stanley discusses price action setups heading into the announcement is his video today on DailyFX.com:
Retail FX and CFD traders remain heavily long the US Dollar and short the S&P 500.
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
“We think the USD/JPY falls further, but the S&P could continue onto fresh peaks,” said David Rodriguez in his Weekly Speculative Sentiment Index (SSI) report on DailyFX.com
