Gold Prices Forecast to Fall Further on Sentiment

ssi_xauusd_body_Picture_10.png, Gold Prices Forecast to Fall Further on Sentiment

XAUUSDRetail forex traders have bought aggressively into Gold weakness against the US Dollar (ticker: USDOLLAR), and a contrarian reading of popular sentiment warns that further XAUUSD weakness is likely.

Trade Implications – XAUUSD: Our technical forecast for Gold prices shows that support near the $1625 remains critical, and current sentiment suggests that a breakdown should be sold.

--- 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 https://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.167+0.006+3.73%
    N21.SI
    2.28+0.12+5.56%
    MC0.SI
    0.101-0.005-4.72%
    5I0.SI
    0.38+0.01+4.11%
    5ME.SI
    0.195+0.012+6.56%
    SK3.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.23+0.02+9.52%
    BTF.SI
    0.485+0.040+8.99%
    43F.SI
    0.122+0.010+8.93%
    C9Q.SI
    0.46+0.03+8.24%
    P19.SI
    0.195+0.012+6.56%
    SK3.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.155-0.050-24.39%
    K22.SI
    0.215-0.020-8.51%
    RE4.SI
    1.12-0.09-7.44%
    5SR.SI
    0.68-0.04-5.56%
    564.SI
    1.04-0.06-5.02%
    AYN.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4241+0.0055+0.39%
    USDSGD=X
    1.5235+0.0122+0.81%
    EURSGD=X
    1.8113+0.0091+0.50%
    GBPSGD=X
    80.3050+0.573+0.72%
    SGDJPY=X
    5.4431-0.0181-0.33%
    SGDHKD=X
    3.1237-0.0022-0.07%
    SGDMYR=X
    9,435.4736-92.2773-0.97%
    SGDIDR=X
    4.8314-0.0172-0.35%
    SGDCNY=X
    1.0577+0.0005+0.05%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,164.80-10.30-0.88%
    GCZ16.CMX
    16.59-0.16-0.94%
    SIZ16.CMX
    82.30+2.99+3.77%
    ^XAU
    2.65+0.04+1.49%
    HGZ16.CMX
    52.01+0.33+0.64%
    CLF17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.83-0.06
    ^FVX
    2.39-0.05
    ^TNX
    3.06-0.03
    ^TYX