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
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