Monday, 26 October 2009
It was an impressive
It was an impressive week for forex trading sentiment-based forecasts, as our SSI-based currency systems went heavily short the US Dollar and Japanese Yen ahead of the pair’s sharp drops through recent trade. A more recent moderation in US Dollar and Japanese Yen losses has meant that forex trading crowd sentiment is far less one-sided, and our forecasts have accordingly become less clear. Traders aggressively bought the US currency as it continued to decline, and our contrarian trading systems presciently faded sentiment extremes on the USD’s tumble. Some of those systems have now covered US Dollar short exposure, and we await sentiment clarification before taking aggressive stances on all but a select few currency pairs.