Highlights and themes
- US Dollar continues to hold and consolidates although a pending downside Sequential remains
- Yen saw enough weakness to help bounce the Euro, Pound, and Aussie crosses
- Euro, Pound, Swiss Franc are moderately overbought
- Crypto had a good week with Ethereum recently having a new DeMark buy Countdown 13
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Currency Sentiment Overview
Currency sentiment highlights
US Dollar Indexes
DXY US Dollar Index daily consolidating at the lows with a secondary Sequential pending.
Bloomberg US Dollar Index weekly has a recent DeMark Sequential but might start a new downside Countdown if it can’t reverse in the coming weeks
US Dollar bullish sentiment might be making higher lows despite price action which has been weak.
US Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
Major USD Crosses
EURUSD Euro / US Dollar is moderately overbought and will be watching the possible sell Setup 9 on Tuesday.
Euro bullish sentiment remains elevated
Euro Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
GBPUSD British Pound Sterling / US Dollar should get the Sequential sell Countdown 13 this coming week in upside wave 5 of 5.
British Pound Sterling bullish sentiment made a slight new high in sentiment this past week.
British Pound Sterling Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
AUDUSD Australian Dollar / US Dollar poking a little higher with Sell Setup 9 nearing
Australian Dollar bullish sentiment divergent from price.
Australian Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators. Sequential on week 12 of 13
USDCAD US Dollar / Canadian Dollar stalled after recent Sell Setup 9.
Canadian Dollar bullish sentiment consolidating
Canadian Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDCHF US Dollar / Swiss Franc with recent DeMark buy Countdown 13’s
Swiss Franc bullish sentiment reversal from extreme zone
Swiss Franc Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators with recent Setup 9
USDJPY Japanese Yen daily has yen weakness returning enough to qualify the corrective lower high wave 4 of 5 in the downside pattern. Let’s see how far this can bounce. I expect it will not move more than the wave 2 (yellow 2) high
Japanese Yen bullish sentiment dropped after a brief moment above the extreme zone >80%
Yen Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
Crypto
Bitcoin daily bounce from recent low stalling at the 200 day and highs seen in August.
Bitcoin bullish sentiment improved last week making a three month high in sentiment
Ethereum bounced after recent DeMark Sequential buy Countdown 13
Three major Yen crosses
Weaker Yen returned last week vs crosses
EURJPY Euro / Japanese Yen with nice reversal after Sequential and Combo 13’s and Setup 9.
GBPJPY British Pound Sterling / Japanese Yen with nice reversal after recent Sequential 13 and Setup 9
AUDJPY Australian Dollar / Japanese Yen with Sequential on day 5 of 13
US Dollar vs Emerging Markets
USDBRL US Dollar / Brazilian Real with bounce but Sequential remains pending on downside
USDMXN US Dollar / Mexican Peso has a secondary Sequential on day 4 of 13.
Mexican Peso bullish sentiment with a lower high bounce?
Mexican Peso Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDZAR US Dollar / South African Rand
DeMark Sequential Basics from Bloomberg
Detailed Commitment of Traders explanation
