Advertisement
Australia markets closed

  • ALL ORDS

    7,817.40
    -81.50 (-1.03%)
     

  • ASX 200

    7,567.30
    -74.80 (-0.98%)
     

  • AUD/USD

    0.6421
    -0.0004 (-0.07%)
     

  • OIL

    83.24
    +0.51 (+0.62%)
     

  • GOLD

    2,406.70
    +8.70 (+0.36%)
     

  • Bitcoin AUD

    99,002.02
    +2,367.70 (+2.45%)
     

  • CMC Crypto 200

    1,366.90
    +54.28 (+4.13%)
     

  • AUD/EUR

    0.6023
    -0.0008 (-0.13%)
     

  • AUD/NZD

    1.0893
    +0.0018 (+0.17%)
     

  • NZX 50

    11,796.21
    -39.83 (-0.34%)
     

  • NASDAQ

    17,037.65
    -356.67 (-2.05%)
     

  • FTSE

    7,895.85
    +18.80 (+0.24%)
     

  • Dow Jones

    37,986.40
    +211.02 (+0.56%)
     

  • DAX

    17,737.36
    -100.04 (-0.56%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

Australian Dollar at Potential Turning Point

David Rodriguez

DailyFX.com -

Australian Dollar at Potential Turning Point
Australian Dollar at Potential Turning Point

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

AUDUSD - The ratio of long to short positions in the AUDUSD stands at -1.14 as 47% of traders are long. Yesterday the ratio was -1.18; 46% of open positions were long. Long positions are 3.4% lower than yesterday and 2.1% above levels seen last week. Short positions are 6.4% lower than yesterday and 18.1% above levels seen last week. Open interest is 5.0% lower than yesterday and 9.0% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the AUDUSD may continue higher.

ADVERTISEMENT

Yet we would ideally see a stronger shift towards crowd selling before getting long the AUDUSD.

See next currency section:NZDUSD - New Zealand Dollar Rally Looks in Danger

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Australian Dollar at Potential Turning Point
Australian Dollar at Potential Turning Point

Automate our SSI-based trading strategies via Mirror Trader free of charge

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX


original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.