Retail forex trading crowds continue to sell the US Dollar (ticker: USDOLLAR) and Japanese Yen against major counterparts. We forecast further USD and JPY declines.
Indeed, we believe that forex market conditions continue to favor selling US Dollar and Japanese Yen strength. There was a modest pullback in USD-long interest since last week, but as long as the majority of retail traders remain long US Dollars versus the Euro and other counterparts we remain in favor of USD weakness.
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Indeed, we believe that forex market conditions continue to favor selling US Dollar and Japanese Yen strength. There was a modest pullback in USD-long interest since last week, but as long as the majority of retail traders remain long US Dollars versus the Euro and other counterparts we remain in favor of USD weakness.
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