Gold prices continue to print new 2016 highs as retail traders sell
Retail sentiment, as measured through FXCM’s Speculative Sentiment Index (SSI) shows traders are increasing the short positions steadily since middle of January 2016. At the same time, the number of long traders has reduced to levels not seen since May 2015.
XAU/USD (Gold SSI Reading)
Past performance is not necessarily indicative of future results.
This divergence in sentiment is driving the SSI ratio negative. For those familiar with SSI, a shrinking or negative sentiment reading provides a bullish background as SSI is a contrarian type of signal.
Past performance is not necessarily indicative of future results.
Jeremy Wagner says in his article today on DailyFX.com: "The next level of resistance we are watching is near $1225/oz. This is where the parallel of the (1)-(3) trend line is based and also the May 15, 2015 swing high."
Data Points to S&P 500 Losses and a Gold Price Surge
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
Past performance is not necessarily indicative of future results.
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
Are both the US Dollar and the S&P 500 Worth Buying?
In his Weekly Speculative Sentiment (SSI) Index report on DailyFX.com, 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."
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Past performance is not necessarily indicative of future results.
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...
Past performance is not necessarily indicative of future results.
"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
US Dollar and GBP Likely to Fall Even Further Until this Changes
Forex trading crowds continue buying into British Pound and US Dollar weakness.
Past performance is not necessarily indicative of future results.
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.
This recent @DailyFXTeam tweet shows how the Speculative Sentiment Index (SSI) has dropped after today's FOMC announcement.
Past performance is not necessarily indicative of future results.
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.
WTI Crude Oil Price Forecast: Is Momentum About to Breakout?
Trading instructor Tyler Yell discusses possible reasons why WTI Crude (USOil) could launch "further into a Bull Market" in his article today on DailyFX.com:
Past performance is not necessarily indicative of future results.
Forex Positions at Extremes - Something Big on the Horizon
Retail forex traders continue buying aggressively into US Dollar weakness, while positioning on the S&P 500 remains near records:
Past performance is not necessarily indicative of future results.
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
Past performance is not necessarily indicative of future results.
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:
Dollar Poised to Fall Further, While S&P 500 Looks like a Buy
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
Past performance is not necessarily indicative of future results.
"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
US Dollar Poised to Fall Further Until this Changes
Retail trader data warns the US Dollar could fall to further lows versus the Euro and the Japanese Yen.
Weekly Summary of Forex Trader Sentiment and Changes in Positioning
Past performance is not necessarily indicative of future results.
But quantitative strategist David Rodriguez discusses key warning signs which are difficult to ignore in his Weekly Speculative Sentiment Index (SSI) report on DailyFX.com
The Brexit referendum is the outcome of a policy initiative by the British Government to give citizens the chance to vote on whether Britain should remain a part of the European Union or whether the country should leave.
The referendum date has been set for 23rd June 2016 and following the European Union Referendum Act 2015 will put the following question to the electorate via a ballot:
Should the United Kingdom remain a member of the European Union or leave the European Union?
The lead up to this vote is likely to cause volatility in the markets which could provide opportunities to traders as both outcomes will cause a certain amount of immediate uncertainty.
Past performance is not necessarily indicative of future results.
If Britain decides to leave the EU, there will likely need to be a period of 2 years to be able to give notice along with a trade deal renegotiation and if Britain stays, there remains the question of the negotiated settlement and whether this could be overruled.
The DailyFX research team can help you to navigate the ongoing Brexit volatility in a unique series of webinars ending with a rally in the final week.
What would a Brexit mean for the UK economy, assessing both the short and long term impacts? How will the decision affect traders across multiple markets? How will the Pound react? To hear their insights and analyses on the impact of this vote, you can sign up for the free webinar series on the FXCM UK website.
