US Dollar Outlook: USD/CAD May Rise as AUD/USD, EUR/USD Fall. Retail Bets Eyed
2021-07-07 05:00:00
Daniel Dubrovsky,
Strategist
US Dollar, USD/CAD, AUD/USD, EUR/USD, Technical Analysis, Retail Trader Positioning - Talking Points
Retail traders are increasingly betting the US Dollar may weaken
Check out recording to my webinar for detailed IGCS analysis
According to IG Client Sentiment (IGCS), retail traders appear to be increasingly betting that the US Dollar could depreciate ahead. Downside exposure in USD/CAD is on the rise, while upside bets are increasing in AUD/USD and EUR/USD.
IGCS can at times be a contrarian indicator. Meaning that, if this trend in positioning continues, the Greenback could continue seeing gains ahead. To learn more about using this tool, check out the recording to this week’s session on IGCS in the video above.
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