Highlights and themes
In order to make my life easier, as it takes a considerable time to research and build these notes, I have made all annotations on the charts, and sentiment charts are self-explanatory. In this section, I will give key thoughts on each market.
US Dollar: After falling in the previous week there was some stabilization. US Dollar Index has near-term resistance at 104. Sentiment improved to 60%
Dollar Crosses: Euro and Pound saw declines vs US Dollar with sentiment falling back under the 50% midpoint level. Others like Swiss Franc, Aussie Dollar etc are acting similarly.
Yen: This was a big week for Yen strength with December 7th surge. There are DeMark buy Setup 9’s developing on many Yen crosses so some renewed Yen weakness could start again.
Crypto: Overbought with some more DeMark sell Countdown 13’s and sell Setup 9’s. Very strong momentum making the exhaustion signals pause briefly while bullish sentiment is back to the highs seen several times in 2023.
Currency Sentiment Overview
Currency sentiment highlights
US Dollar Indexes
DXY US Dollar Index daily
DXY US Dollar Index Weekly
US Dollar bullish sentiment
US Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
Major USD Crosses
EURUSD Euro / US Dollar
Euro bullish sentiment
Euro Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
GBPUSD British Pound Sterling / US Dollar
British Pound Sterling bullish sentiment
British Pound Sterling Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
AUDUSD Australian Dollar / US Dollar
Australian Dollar bullish sentiment
Australian Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDCAD US Dollar / Canadian Dollar
Canadian Dollar bullish sentiment
Canadian Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDCHF US Dollar / Swiss Franc
Swiss Franc bullish sentiment
Swiss Franc Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDJPY Japanese Yen daily
Japanese Yen bullish sentiment
Yen Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
Crypto
Bitcoin Daily is toppy and overbought
Bitcoin bullish sentiment
Ethereum is toppy and overbought
Three major Yen crosses – big reversals
Buy Setup 9’s in play
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)
DeMark Sequential Basics from Bloomberg
Detailed Commitment of Traders explanation
