de | cn | ru

Market News

Speculative Sentiment Index (SSI) continues to prove to be a reliable forex forecasting tool

 

More people are turning to the Speculative Sentiment Index (SSI) as it continues to prove to be a reliable forecasting tool in the forex market. This unique innovation of  FXCM Inc.(NYSE: FXCM) reveals where FXCM’s forex-trading crowd is positioned, helps traders create powerful trading strategies, and provides traders with insight where the market might potentially move.
 
The SSI is available free twice a day onDailyFX+for all FXCM live-account holders. The public can also view a weekly SSI report on Thursdays on DailyFX.com.
 

 

EURUSD, AUDUSD, and USDCAD all attracted great forex-market interest this past week. As of April 22, the AUDUSD was up to a new, all-time high. EURUSD, despite Portugal's debt issues, had broken back above 1.45, and the U.S. dollar hit a three-and-a-half-year low against the loonie.

 

Below is the FXCM’s Speculative Sentiment Index (SSI) diary of the euro, Australian dollar, and Canadian dollar for the week of April 18, and the result on the currency pairs’ price action.

 
EUR/USD
An average of 65% of EUR/USD traders at FXCM shorting the pair. The SSI suggests the majority of the trading crowd is usually wrong, and bases its signals on moving against the crowd.
Result: EUR/USD continually gained. The successful trader would have been the one who had followed the SSI signal and bought the euro.
 
AUD/USD
85% of FXCM AUD/USD traders thought the Aussie was going to fall, and maintained their short positions throughout the week. As a contrarian indicator, the SSI continually suggested going against the crowd and being long the pair.
Result: The AUD/USD hit a new, all-time high, and the successful trader would have been the one who had followed the SSI signal and bought the Australian dollar.
 
USD/CAD
The pair has been falling since mid-March. On average, 85% of FXCM’s traders were speculating on a rise in the USD/CAD, and were longing the pair. Meanwhile, the SSI continually signaled USD/CAD losses.
Result: USD/CAD kept falling, hitting its newest low in three-and-a-half years. If the 85% of those FXCM traders had followed the SSI's consistent signal, and had sold their US dollars against the loonie, they would now be on the right side of the trade.*
 
 
About FXCM Inc.
 
FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide.
 
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM’s large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution, and trading from real-time charts. FXCM's UK subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade forex, oil, gold, silver, and stock indices on one platform.
 
In addition, FXCM offers educational courses on forex trading and provides free news and market research.
 
TAGS: fxcm ssi  fxcm  forex  forex sentiment 

More news about FXCM

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website

More Forex Market News

Trader makes 2 million with 30K investment at easyMarkets

Feb 21 2019 14:35:49

It seems that global brokerage easyMarkets really provides its clients with the tools and conditions to achieve their investment goals and beyond. Below, you can read about a trader who grabbed the bull by the horns, jumped on its back and rode it all the way to a $2,000,000 return. Read more

The Central Bank of Ireland warns against unauthorized broker Capital Hall

Feb 19 2019 13:33:56

  The Central Bank of Ireland (CBI), which also serves as a financial services supervisor, issued a warning against offshore forex and CFD broker Capital Hall on Monday.   Forex and CFD broker Capital Hall operates via www.capitalhall. Read more

Italy’s CONSOB added GoldmanCFD, WiseBanc, and several other unregulated brokers to its warning list

Feb 18 2019 14:54:49

  Italian financial regulator Commissione Nazionale per le Societa e la Borsa (CONSOB) updated its warning list with unregulated brokers GoldmanCFD, WiseBanc, FirstBTCfx, and WinCapitalPro on Monday. Read more

UK's FCA updates its warning list with unregulated forex broker K2 Wall Street

Feb 15 2019 13:02:47

  The Financial Conduct Authority (FCA) has updated its warning list with unregulated broker K2 Wall Street (K2WS) on Friday. Read more

Austrian financial regulator blacklisted Tradeinvest90, FX Market Pro, and KontoFX

Feb 14 2019 13:40:05

   The Austrian Financial Market Authority (FMA) added Tradeinvest90 to its warning list on Wednesday. Earlier this month the regulator flagged other two unregulated forex brokers - FX Market Pro and KontoFX. Read more

Italy's CONSOB warns against ProCapitalFX, GameBtcFx, CryptoClubFX and other unregulated brokerage brands

Feb 13 2019 18:28:36

  Italy's financial regulator Commissione Nazionale per le Societa e la Borsa (CONSOB) has updated its warning list with a bunch of unregulated brokers, including ProCapitalFX, GameBtcFx, and CryptoClubFX. Read more

CySEC blacklisted clones of BogoFinance and FXJET, as well as several other unregulated websites

Feb 12 2019 13:54:14

 The Cyprus Securities and Exchange Commission (‘CySEC’updated its warning list with clones of BogoFinance and FXJET, as well as two brands of unregulated company Algobit Ltd. - Worldwide CapitalFX and Lite Options. Read more

More than 40 brokers lose their IFSC licenses, including Finpro Trading, Fort Financial Services, Top4FX, and ZB Forex

Feb 11 2019 13:17:43

  The International Financial Services Commission of Belize (the “IFSC”) warned the public Finpro Trading, BlueMax Capital, Fort Financial Services, NPBFX, Salma Markets, Top4FX, IFA FX, ZB Forex and 40 more companies have not renewed their forex broker licenses. Read more

ACCC: Australians have lost $926 401 to investment scams in January

Feb 08 2019 13:09:32

  Australians have lost $926 401 to investment scams in January 2019, revealed the latest Scamwatch report issued by the Australian Competition & Consumer Commission (ACCC). Read more

Spain’s CNMV warns against unregulated broker CFX Point

Feb 06 2019 17:02:39

  Spain’s financial watchdog, the Comision Nacional del Mercado de Valores (CNMV), issued warnings against forex broker CFX Point, and several other unregulated financial service providers on Monday. Read more

de | cn | ru