XAUUSD–Retail forex traders have remain aggressively long Gold versus the US Dollar (ticker: USDOLLAR), and such one-sided sentiment warns of further weakness.
Trade Implications – XAUUSD: Our Senior Technical Strategist called for Gold short positions as it broke a key upward-sloping trend channel, and overall evidence suggests a test of 2012 lows near $1530 seems likely.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
New to FX markets? Learn more in our video trading guide.
Contact David via
Twitter at http://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX
- Investment & Company Information