Australian Dollar May Rise as Retail Traders Become More Bearish AUD/USD
The Australian Dollar has continued its recent cautious upward climb and retail traders are adding bearish exposure. Will AUD/USD continue higher from here?
Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Aug 24, 2023 when Wall Street traded near 34,133.90.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bearish contrarian trading bias.
USD/CAD IG Client Sentiment: Our data shows traders are now net-long USD/CAD for the first time since Aug 03, 2023 when USD/CAD traded near 1.33.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bearish contrarian trading bias.
British Pound Technical Update: GBP/USD, EUR/GBP Show that Sterling Remains Pressured
The British Pound has continued to weaken against the US Dollar and the Euro. Does this continue spelling trouble for GBP/USD and EUR/GBP and what are key levels to watch next?
Gold Price Outlook: XAU/USD Flirts Breakout as Retail Traders Turn More Bearish
Gold prices have rallied for another day and retail traders are starting to become more bearish. This is as XAU/USD is flirting with breaking above a key falling trendline from May.
Crude Oil to Test $100? Natural Gas is not Out of the Woods Yet
Crude oil’s break above key resistance has triggered a bullish pattern, pointing to further gains. Natural gas has slipped into a narrow range. What’s next for crude oil and natural gas?
Oil – US Crude IG Client Sentiment: Our data shows traders are now at their least net-long Oil – US Crude since Aug 10 when Oil – US Crude traded near 82.39.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil – US Crude-bullish contrarian trading bias.
Gold and Silver Technical Update: XAU August Swing Low Nears, XAG Faces 2022 Trendline
Gold prices are appearing to resume the broader downward bias since May, with the August swing low nearing. Meanwhile, Silver is at the juncture of rising support from September 2022.
Euro Sets Stage for Longest Weekly Losing Streak Since 1997, Retail Traders Still Bullish
The Euro is now on course for a 9th consecutive weekly loss, which would be the longest losing streak since 1997. Retail traders continue becoming more bullish, will this bode ill for EUR/USD?
EUR/CHF IG Client Sentiment: Our data shows traders are now at their most net-long EUR/CHF since Sep 05 when EUR/CHF traded near 0.95.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/CHF-bearish contrarian trading bias.