EURUSD – Euro Forecast to Fall Further Versus US Dollar

GBPUSD – British Pound Forecast Remains Bullish

USDJPY – Japanese Yen Likely to Recover versus Dollar

USDCHF – Swiss Franc Forecast Positive

USDCAD – Canadian Dollar Forecast to Decline

GBPJPY – Forex Sentiment Gives Few Clues on Direction

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The US Dollar has finally shown signs of life, and several of our Forex Sentiment-based trading strategies have aggressively bought into the Dollar’s recovery. Last week we reported that one-sided crowd sentiment showed little scope for a Greenback reversal. Yet extreme Forex Futures and Options positioning data strongly suggested that a turn was imminent. The impressively quick turnaround in US Dollar pairs subsequently forced substantive shifts in retail FX sentiment, and our SSI accordingly pointed to US Dollar gains. As it stands, the overnight Dollar decline has moderated our conviction in calling for further dollar st