Highlights and themes
It’s pretty simple. The US Dollar domination continues to lift into historical bull sentiment levels with crosses with equally bearish sentiment levels. The Yen has been possibly the driver of the USD strength and there are some cracks on some of the JPY crosses. Overall the setup is there for a turn and as much as I might be the boy who cried wolf, the setup is there.
Currency Sentiment Overview
Currency sentiment highlights show the first day in 5 with the dollar bullish sentiment at 95%. The 20 day moving average at a very extreme 90%
US Dollar Indexes
DXY US Dollar Index daily with a new Combo 13
DXY US Dollar Index weekly also with a new Combo 13 and Sequential sell Countdown in progress
Bloomberg US Dollar Index daily ignored the recent Countdown 13’s
Bloomberg US Dollar Index weekly also ignoring the 13’s
US Dollar bullish sentiment dropped for the first time in 6 days. That 90% level for the 20 day moving average is something I’ve never seen before
US Dollar Commitment of Traders shows speculators increased long exposure. (ignore the managed money data on all the following currencies)
Bitcoin
Bitcoin Daily
Bitcoin bullish sentiment broke lower while 38,000 has held support
Ethereum Daily fading
Major USD Crosses
EURUSD Euro / US Dollar
Euro bullish sentiment has been under pressure and perhaps can turn from here
Euro Commitment of Traders shows speculators decreasing long exposure
GBPUSD British Pound Sterling / US Dollar
British Pound Sterling bullish sentiment bounced and let’s watch and see if it can continue
British Pound Sterling Commitment of Traders shows speculators continue to short
AUDUSD Australian Dollar / US Dollar
Australian Dollar bullish sentiment is oversold and has been slammed
Australian Dollar Commitment of Traders shows speculators covering a little again
USDCAD US Dollar / Canadian Dollar
Canadian Dollar bullish sentiment continues lower
Canadian Dollar Commitment of Traders is tightly wound
USDCHF US Dollar / Swiss Franc
Swiss Franc bullish sentiment remains under EXTREME pressure
Swiss Franc Commitment of Traders saw speculators going more short
RISK On Risk Off
This cross is often used as a risk-on / risk-off indicator
EURAUD Euro / Australian Dollar
Three major Yen crosses – important
EURJPY Euro / Japanese Yen
GBPJPY British Pound Sterling / Japanese Yen
AUDJPY Australian Dollar / Japanese Yen
US Dollar vs Emerging Markets
USDTRY US Dollar / Turkish Lira
USDBRL US Dollar / Brazilian Real
USDMXN US Dollar / Mexican Peso
Mexican Peso bullish sentiment little changed this week
Mexican Peso Commitment of Traders is tightly wound
USDZAR US Dollar / South African Rand
USDCNH US Dollar / Chinese Offshore Renminbi (Yuan)
DeMark Sequential Basics Bloomberg
More detailed Commitment of Traders explanation
