Given the massive risk-off sentiment at the start of this week, this sentiment snapshot provides some perspective on recent moves but from a contrarian viewpoint
Source
Retail Sentiment Snapshot: Gold, Oil, and USD/CHF Positioning Analysed
access_timeSeptember 16, 2024
Latest:
- Crude oil futures settled at $70.09, and back above a key retracement target
- ECB’s Kazaks: Interest rates will continue to be lowered
- BofA: We look to fade any hawkish knee-jerk FOM reactions
- After trading to new lows going back to July 2023, the USDJPY has moved back higher.
- AUDUSD extends above 100 bar MA on the 4-hour chart at 0.6733. Stay above is more bullish.
- Buyers and sellers ping-pong between 100 bar MAs in NZDUSD. Traders wait for the break.
- USDCAD buyers have created a floor, but there is upside work if the buyer are to control.
- The ‘should’ versus ‘will’ debate
- Kickstart the FX trading day for Sept 16 w/a technical look at the EURUSD, USDJPY & GBPUSD
- ECB’s Lane: Incoming data on wages and profits have been in line with expectations
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