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Hedge Fund Telemetry Currency Focus
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Comments above each sentiment, COT, and cross. I am a little short on time today. The most important ones are now on the top half and others below are not as important to many of you.
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US Dollar Bullish Sentiment is at 94% and that matches the extreme high of on 5/29. Some give back is due
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Commitment of Traders report shows speculators increasing the long exposure by 287%. We knew this was possible
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US Dollar has stalled here on the daily but still looks higher with upside Countdown on day 8 of 13. Choppy action won't shock me with that extreme high sentiment reading
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Euro Bullish sentiment is at 20%
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Commitment of Traders report shows speculators dropped the long positioning by 59%
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Commitment Of Traders report shows speculators with the DeMark indicators dropping right after the upside exhaustion signal. Pretty cool
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EURUSD daily chopping around down here but there still is a pending downside Countdown on day 7 of 13
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GBPUSD - UK Pound Sterling
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British Pound bullish sentiment is at 10%
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GBPUSD daily did get the downside exhaustion 13 and turned up. A bounce then lower
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Yen bullish sentiment is at 28%
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USDJPY daily is on day 11 of 13 a little weaker expected for Yen
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Canadian bullish sentiment is at 17%
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USDCAD daily is backing off this move and with CAD with low sentiment a bounce is likely
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Swiss Franc bullish sentiment is at 33%
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USDCHF daily should see the Swiss Franc increase. I like it
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AUDUSD - Australian Dollar
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Australian Dollar bullish sentiment is at at 11 and remains oversold
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AUDUSD daily should start to lift. I say should but it hasn't yet enough to clear the mid June level
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USDCNH- Chinese Renminbi (Yuan)
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USDCNH Daily did get the upside 13 last night and it is in wave 3 so a back off into wave 4 then continuation of weak Yuan
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Gold Bullish Sentiment is at 8% and that's the lowest in a year
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Gold Futures Daily did get the downside 13's with the pink Combo and red Sequential - I like this long here
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GLD Gold ETF Daily had the exhaustion signals a few days ago
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Bitcoin Daily another new low. This is the XBTUSD which doesn't have the weekends and I will post the 24/7 Monday. This one actually has been better at turns. So there you go.
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NZDUSD - New Zealand Dollar
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New Zealand Dollar bullish sentiment is at 7% and that's a new low
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NZDUSD daily however is breaking down and only is on day 3 of 13. Maybe some choppy action is ahead but a 13 will happen in a sideways to down pattern.
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USDNOK daily has a wedge with breakouts at 8.21/8.09
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USDSEK daily does not have a defined DeMark signal but SEK trend seems down unless 50 day breaks
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USDDKK daily toppy action looks like DXY but an upside red Countdown is still pending
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If there are any important crosses you would like me to add or send one off, please let me know
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Mexican Peso bullish sentiment is at 40% and increasing
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USDMXN daily looks like the Peso can continue to bounce
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USDHKD - Hong Kong Dollar
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USDSGD - Singapore Dollar
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USDSGD daily with Countdown 13 today like the Yuan
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USDINR daily has Rupee drifting lower but I don't see a giant move ahead
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USDZAR - South African Rand
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USDZAR daily shows the USD in command
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USDRUB daily no changes with this range
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USDTRY daily is getting some relief after the 13's but this could be the 4th wave down and new move lower for the Lira might start soon
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USDILS daily on the 12th of 13th day. Good reaction with the last 13
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USDRON daily shows USD still in control
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USDHUF - Hungarian Forint
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USDHUF daily again same story
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USDARS daily is concerning as it is only on day 10 of 13 and had a bad day today.
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If there are any important crosses you would like me to add or send one off, please let me know
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EURJPY daily range bound for now
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EURGBP - Euro British Pound
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EURGBP daily also range bound
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EURCHF - Euro Swiss Franc
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EURCHF daily has downside Countdowns but not sure that will happen.
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EURCAD - Euro Canadian Dollar
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EURCAD daily has a deeper oversold CAD so it could see higher CAD
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EURAUD - Euro Australian Dollar
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EURAUD daily is at make or break time with green Setup 9
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If there are any important crosses you would like me to add or send one off, please let me know
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GBPJPY - British Pound Yen
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CHFJPY daily I like the Swiss Franc long vs Yen a lot
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AUDJPY - Australian Dollar Yen
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AUDJPY daily over sold but needs more work to the upside
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USDBRL- USD Brazilian Real
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USDBRL daily has ignored the 13's and has a strong trend. I'll update on daily this coming week
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