Highlights and themes
- The big story is that the recent US Dollar strength has started to reverse across all crosses or, in a few cases, has just stalled the recent move.
- Dollar Indexes had recent daily DeMark Sequential and Combo sell Countdown 13’s that didn’t turn immediately and last week triggered weekly sell Setup 9’s which worked the last two times this indicator qualified.
- Several European currencies were oversold
- It also has seen Yen strength return which the last time that happened was in late July with a nasty yen carry trade panic unwind.
- Crypto remains overbought but no reversals to note.
Comments on charts. If you have questions or would like more context, please email.
Currency Sentiment Overview
US Dollar Indexes
DXY US Dollar Index daily with decent reversal starting.
DXY US Dollar Index weekly with new Sell Setup 9 which worked well the last two times.
Bloomberg US Dollar Index daily with reversal
Bloomberg US Dollar Index weekly with new sell Setup 9 which worked the last two times well.
US Dollar bullish sentiment with decent shot at reversing lower after hitting extreme levels
US Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
Major USD Crosses
EURUSD Euro / US Dollar trying to reverse
Euro bullish sentiment with slight reversal.
Euro Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators. With buy Setup 9 that could see a reversal bounce
GBPUSD British Pound Sterling / US Dollar with reversal
British Pound Sterling bullish sentiment with reversal up
British Pound Sterling Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators. Buy Setup 9 could see a bounce
AUDUSD Australian Dollar / US Dollar with potential reversal probabilities.
Australian Dollar bullish sentiment with slight reversal
Australian Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDCAD US Dollar / Canadian Dollar stalling after some choppy action
Canadian Dollar bullish sentiment with a slight reversal
Canadian Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators. Week 12 of 13
USDCHF US Dollar / Swiss Franc with slight reversal
Swiss Franc bullish sentiment with slight reversal
Swiss Franc Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDJPY Japanese Yen daily reversing after a potential lower high wave 2 of 5 large bounce.
The Japanese Yen’s bullish sentiment is starting to reverse up, which wasn’t received well by macro markets last time.
Yen Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators. Watching to see if the new Sequential continues with Yen strength
Crypto
Bitcoin daily has a secondary Sequential to watch with support at the 20 day.
Bitcoin bullish sentiment reversed after nearly hitting a new 2024 high 88% vs March high of 89%
Ethereum with new Combo 13 which saw a price reversal with the last one
Three major Yen crosses – reversals starting
EURJPY Euro / Japanese Yen with strong reversal
GBPJPY British Pound Sterling / Japanese Yen reversing with new Setup 9 but will a new downside Sequential start this week?
AUDJPY Australian Dollar / Japanese Yen reversing with 93.87 TDST support
US Dollar vs Emerging Markets
USDBRL US Dollar / Brazilian Real with new Sequential sell Countdown 13 and sell Setup 9 due on Monday.
USDMXN US Dollar / Mexican Peso has been trending much in the opposite direction of the last year
Mexican Peso bullish sentiment with small turn last week
Mexican Peso Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators. Next week could qualify a new Sell Setup 9
USDZAR US Dollar / South African Rand stalled
USDCNH US Dollar / Chinese Offshore Renminbi (Yuan) stalled
DeMark Sequential Basics from Bloomberg
Detailed Commitment of Traders explanation
