Dukascopy_Analyst

Gold's decline is repeatedly stopped by 55-day MA

FX:XAUUSD   Gold Spot / U.S. Dollar
69 0 0
"The positive move in global equity markets is bearish for gold             ."
- Shandong Gold             Group (based on CNBC)

Pair's Outlook
Bearish sentiment dominated in the market on Thursday, being that gold             slumped below 1,075 for the first time in eight trading days. Eventually prices, which started depreciating from the weekly PP             at 1,092, were contained by 55-day SMA at the end of US session. Early in the Asian session on Friday we are observing some mild gains, meaning the moving average is holding strong for the moment. Short-term bullish case is expected by daily technical indicators, but any positive surprise from US statistics later today could put at risk any recovery and expose the area below yesterday low of 1,071.50.

Traders' Sentiment
Price losses that occurred yesterday used to have a positive impact on the SWFX market sentiment. The decline encouraged somewhat move purchases of the safe haven metal, as the percentage of "buy" open positions rose to 56% from 55%.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out