Gold Prices Likely to Fall Further
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Gold– One-sided retail trader sentiment warns that Gold prices may continue lower versus the resurgent US Dollar. Our trader sample shows that there are 1.5 open long positions for every short position, and a contrarian view of crowd sentiment gives us a bearish short-term trading bias.
See next currency section: EURUSD - Euro at Clear Risk for Further Declines
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.