Highlights and themes
US Dollar pullback continues. This remains a corrective move from the trend seen most of this year. Euro and Pound also have clear corrective bounce moves. Yen weakness that I’ve shown for months has seen some moderate strength. Yen crosses with Euro, Pound, and Aussie still shows gains vs Yen. Crypto is toppy with DeMark exhaustion signals in play.
Currency Sentiment Overview
Currency sentiment highlights. Note we should have the sentiment on USD and Euro fixed soon. The current sentiment for the Dollar is 54% and Euro is 63%. We are sorry about the disruption from our data source. It’s been frustrating getting them to fix this for us.
US Dollar Indexes
DXY US Dollar Index daily making a new low on this move today.
DXY US Dollar Index weekly topped with recent sell Setup 9 and on week 5 of 9 with downside Setup.
Bloomberg US Dollar Index daily has a new Setup 9 but could continue lower with a new Sequential Countdown.
US Dollar bullish sentiment is now at 54%.
Major USD Crosses
EURUSD Euro / US Dollar with a lower high bounce still in play.
Euro bullish sentiment is currently at 63%
Euro Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
GBPUSD British Pound Sterling / US Dollar with sell Setup 9 today and lower high wave 4 of 5.
British Pound Sterling bullish sentiment just a touch over 50% midpoint level.
British Pound Sterling Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
AUDUSD Australian Dollar / US Dollar also with sell Setup 9
Australian Dollar bullish sentiment has not improved much
Australian Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDCAD US Dollar / Canadian Dollar
Canadian Dollar bullish sentiment trying to improve
Canadian Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDCHF US Dollar / Swiss Franc with DeMark exhaustion in play and near
Swiss Franc bullish sentiment nearing peak levels seen in Q2
Swiss Franc Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDJPY Japanese Yen daily has seen some Yen strength lately after nearly hitting the wave 5 price objective
Japanese Yen bullish sentiment remains under pressure
Yen Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
Crypto
Bitcoin daily toppy with the recent exhaustion signals
Bitcoin bullish sentiment has moved to 70% several times this year and failed.
Ethereum with Sequential left pending on day 12 of 13.
Three major Yen crosses
All three have gained vs Yen despite the recent Yen strength.
EURJPY Euro / Japanese Yen
GBPJPY British Pound Sterling / Japanese Yen
AUDJPY Australian Dollar / Japanese Yen
US Dollar vs Emerging Markets
USDBRL US Dollar / Brazilian Real
USDMXN US Dollar / Mexican Peso
Mexican Peso bullish sentiment
Mexican Peso Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDZAR US Dollar / South African Rand
USDCNH US Dollar / Chinese Offshore Renminbi (Yuan) with new Setup 9 at TDST green dotted line
DeMark Sequential Basics from Bloomberg
Detailed Commitment of Traders explanation
