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  • $USD deeper into support zone, 93.43 was the Q1 swing high, marks the bottom of the zone that I'm following. It's confluent with the 23.6% retracement of the bullish move that started in May #DXY https://t.co/YnLtLO9snk https://t.co/CwyGprF5Eh
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  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 2.44% Oil - US Crude: 1.11% Gold: 0.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/HPC2DX3Kr6
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Gold May Continue to Outperform Unless this Changes

Gold May Continue to Outperform Unless this Changes

David Rodriguez, Head of Product
ssi_GOLD_body_Picture_15.png, Gold May Continue to Outperform Unless this Changes

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GoldRetail FX traders remain short Gold against the US Dollar for the first time since the metal set an important top near $1430 over six months ago. Our trading bias remains bullish XAUUSD above $1280.

Trade Implications – Gold: One-sided US Dollar positioning suggests that the Greenback may be near an important turning point. Yet outperformance in Gold prices give us pause in calling for a reversal of recent gains. Our bias would change if trading crowds bought into any XAUUSD declines.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_GOLD_body_Picture_9.png, Gold May Continue to Outperform Unless this Changes

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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