Gold settles below 1,100 on uplifted Greenback

FX:XAUUSD   Gold / U.S. Dollar
107 0 0
"For gold             , I'm looking for a bearish case at $950 an ounce, driven by higher Fed fund rate to 1.25-1.5 percent and overall dollar strength."
- OCBC Bank (based on CNBC)

Pair's Outlook
Bearish strength pushed the bullion substantially lower during the first trading session of this week. Recovering equity markets in Asia and risk-seeking sentiment resulted in XAU/USD's retreat below the psychological level of 1,100. Gold             managed to limit the sell-off at the weekly pivot point at 1,092, the second support for it yesterday. Some buoyant action is possible in the next 24 hours, but the mid-term risks are still skewed to the downside. While aiming at the 1,084/81 support zone , the bears will be helped by the main resistance, namely 100-day SMA at 1,107.

Traders' Sentiment
Distribution between open positions in the SWFX market has been flat for a third consecutive day on Tuesday, as the bulls and bears are still holding 55% and 45% of them, respectively.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out